Grandbridge Arranges $9.4 Million for Apartments Near NIU

Lincolnshire West Apartments was refinanced under the Fannie Mae DUS program.

Dekalb, Ill. —  Grandbridge Real Estate Capital has secured $9.4 million in Fannie Mae DUS financing for a student housing community located near the campus of Northern Illinois University in Dekalb. The undisclosed borrower is using the proceeds to refinance the 254-unit Lincolnshire West Apartments. The loan carries a fixed interest rate, a 10-year term and a 30-year amortization schedule. Matt Rocco of Grandbridge’s Atlanta office originated the loan.