The Milwaukee office of Charlotte, N.C.-based Grandbridge Real Estate Capital said that it recently originated and closed a $22 million first mortgage loan secured by Hidden Oak Estates, a 324-unit apartment complex located at 8520 82nd St., Pleasant Prairie.
The 33-acre property has 9, 3-story buildings with a mix to one-, two- and three-bedroom units. Each building has underground parking. Other amenities include a heated pool, clubhouse, volleyball and basketball courts and a fitness center.
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Freddie Mac purchased the loan under its Capital Markets Execution loan program. Grandbridge said it is a fixed rate loan in the “low four percent range,” with a 10-year term, amortized over 30 years.
