FORT LAUDERDALE, FL-Grandbridge Real Estate Capital has completed a first mortgage loan of $34.569 million obtained by The Falls at Marina Bay, a multifamily community consisting of 376 units in Fort Lauderdale. This transaction, a refinance of an already existing HUD-insured loan, was started off by Vice President David Gahagan.
Since the original loan under Section 221(d)(4) failed to go through the final endorsement, Grandbridge worked with FHA and the developer to formulate the loan eligible for Section 223(a)(7) refinance plan. For the full story, go to Florida Real Estate Journal.
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