Gantry Secures $48.3 Million Freddie Mac Loan For 248-Unit Multifamily Property In Maple Grove

The Edison at Maple Grove is a 248-unit Class A multifamily property located at 9820 Garland Lane North in Maple Grove, Minnesota. The property has secured a loan amount of $48,300,000 through Freddie Mac, facilitating the refinancing of its construction financing with a 10-year, fixed-rate, non-recourse, full-term interest-only loan.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $48,300,000
• Address: 9820 Garland Lane North
• Market: Maple Grove, MN
• Lender: Freddie Mac
• Loan Type: Permanent
• Loan Terms: 10-year
• Units: 248
• Broker Representatives: Joe Monteleone & Bonnie Monteleone - Gantry

Gantry's Joe and Bonnie Monteleone played a pivotal role in arranging the loan for the private real estate investor borrower. Their expertise facilitated the successful refinancing process, ensuring the property transitioned smoothly from construction financing to permanent loan terms.