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Bridge Investment Group has obtained $87.2 million in acquisition financing for Santa Fe Ranch Apartments, a 320-unit garden-style multifamily property in the La Costa neighborhood of Carlsbad, Calif. The investor inked a deal to buy the greater San Diego area property in April from Nuveen Real Estate for $138.7 million.

Walker & Dunlop Capital Markets, led by Mark Grace and John Montakab, arranged the interest-only, fixed-rate loan on behalf of the buyer, with Freddie Mac providing the capital. This is the first time the property has traded hands in over 20 years. Nuveen acquired the asset in 2002 from Northwestern Mutual Real Estate for $45 million.