GRANDBRIDGE ORIGINATES KC AREA OFFICE LOAN

by admin

LEAWOOD, KAN. — Charlotte, N.C.-based Grandbridge Real Estate Capital has originated and closed a lease for an office building in Leawood. Thomas Turner of Grandbridge’s Kansas City office originated a $4.8 million first-mortgage loan secured by the Cline Wood Office Building. The borrower obtained financing for the 28,000-square-foot building in order to complete construction and purchase the property upon completion of the development. The transaction, which was funding by American United Life Insurance Co., is based on a 15-year term and closed with an interest rate below 7 percent. Upon delivery of the building, the Cline Wood Agency Inc. will master-lease 100 percent of the building.

You may also like