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KANSAS CITY, MO.—Grandbridge Real Estate Capital closed a $12.3 million first mortgage loan secured by Botts Road Distribution Center, a 499,144-sq.-ft. industrial building in Grandview, Mo.
Grandbridge Real Estate Capital’s Senior Vice President Joseph Platt, based in the company’s Kansas City office, originated the acquisition.
Funding for the fixed rate loan was provided by Nationwide Insurance. The 10-year permanent loan features a 20-year amortization and closed with an interest rate of 4.3 percent.
