HOLLYWOOD, FL—Grandbridge Real Estate Capital recently closed a $13-million first mortgage loan secured by Stirling Square, a 95,000-square -foot retail center here.
“The borrower was able to lock in the 10-year fixed interest rate six months in advance of closing, when rates were lower,” said Miami-based SVP Philip Carroll who originated the transaction for Grandbridge.
Funding for the permanent, fixed rate refinance was arranged through one of Grandbridge's banking relationships. The loan featured a 10-year term, 25-year amortization and closed with an interest rate in the mid three percent range.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
