Grandbridge Arranges $12.6M Refinancing for 100-Unit Community in Menasha, Wisconsin

MENASHA, Wis. — Grandbridge Real Estate Capital LLC has arranged a $12.6 million loan secured by a three-building, 100-unit, 146-bed seniors housing facility on two sites in Menasha, on the northern end of Lake Winnebago.

Artin Anvar originated the permanent, fully amortizing modification loan through HUD’s FHA 232/223(f) Interest Rate Reduction (IRR) loan program. Structured with a 26.3-year term and 26.3-year amortization, the nonrecourse transaction closed with a fixed interest rate of 3.2 percent.

The loan proceeds will be used to pay off an existing Grandbridge HUD loan. The borrower and name of the facility were not disclosed.

“This property has recently been repositioned and completing this transaction provided excellent debt service savings for the property,” says Anvar.