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Grandbridge closes $90 million loan for San Francisco apartments

Banking & Finance
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The Greenville office of Grandbridge Real Estate Capital closed on a $90 million refinanced mortgage loan for South Beach Marina Apartments in San Francisco.

The loan was funded with a 12-year interest-only term. The borrower is a state pension liability fund advised by L&B Realty. Bill Mattice and Phillip Cox, co-managers of the Greenville office, originated the loan.

South Beach Marina Apartments is a 414-unit mid-rise complex made up of five buildings in the South of Market neighborhood of San Francisco.

Grandbridge is a division of Branch Banking and Trust Co.

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