HOUSTON--Grandbridge Real Estate Capital hassecured a $6.2-million bridge loan for a Clear Lake office buildingowned by a sovereign wealth fund operated by the Republic of Nauru,GlobeSt.com has exclusively learned.
The two-year loan was provided to the Nauru PhosphateRoyalties Trust, a subsidiary of Nauru RealtyTrust, by a direct small-balance commercial real estatelender. Adam Lipkin, vice president ofGrandbridge's Miami office led the deal.
With just under 10,000 inhabitants, Nauru is the world'ssmallest island nation. Its government developed the NauruPhosphate Royalties Trust to invest proceeds from a state-ownedmining company.
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