The Real Deal Miami

Freddie Mac backs Grandbridge loan portfolio

June 02, 2008 10:51AM

Freddie Mac has backed Fort Lauderdale-based Grandbridge Real Estate Capital’s $96.8 million loan portfolio. The portfolio consists of four first mortgages secured by multifamily properties in North Carolina and Raleigh and Nashville. The deal was part of Freddie Mac’s Acquisition Upgrade Mortgage product, designed to help buyers pick up multifamily properties with plans to renovate them and increase their value.