Grandbridge Arranges $14,000,000 Loan Secured by SoCal Marina Resort and RV Park

Published On: 05.04.15

Los Angeles, CA — Grandbridge Real Estate Capital recently closed a $14,000,000 first mortgage secured by a marina resort and RV park. The loan was originated by Los Angeles-based Shelley Magoffin and Max Sauerman.

The loan was arranged on behalf of a TIC consisting of two privately held real estate investment companies. 

The project is located in a prime coastal Southern California location and the large site allows for a vast array of uses, features and amenities. The property is subject to city and county ground leases. Grandbridge was able to work with the borrower and the lender, one of Grandbridge’s life insurance correspondents, to structure a long-term, fully amortizing loan at a competitive rate along with favorable prepayment flexibility. The nonrecourse loan also provided some interest only at the beginning of the loan term.

About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, N.C., Grandbridge Real Estate Capital, a subsidiary of Branch Banking and Trust Company (BB&T), arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management through its broad investor base that includes insurance companies, CMBS investors, pension fund advisors, commercial banks and capital markets investors, as well as its proprietary lending platform, BB&T Real Estate Funding. The company is a Fannie Mae DUS® lender, a Freddie Mac Program Plus® Seller/Servicer, and an approved FHA MAP and LEAN healthcare lender. 

With a current servicing portfolio of more than $28.6 billion, Grandbridge, an S&P “Strong” rated servicer, services loan portfolios and provides asset and portfolio management nationwide for all capital providers including Fannie Mae, Freddie Mac, Ginnie Mae, insurance companies, banks and more than 250 securitizations. For more information about Grandbridge, visit Grandbridge.com.

About BB&T
BB&T is one of the largest financial services holding companies in the U.S. with $186.8 billion in assets and market capitalization of $26.8 billion, as of Dec. 31, 2014. Based in Winston-Salem, N.C., the company operates 1,839 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. More information about BB&T and its full line of products and services is available at BBT.com.