Grandbridge Arranges $27 Million Mortgage for Maryland Business Park Acquisition

Published On: 02.05.12

MILWAUKEE — Grandbridge Real Estate Capital recently originated and closed a $27,050,000 first mortgage secured by Rutherford Business Park, a 359,937 square foot office park located in Woodlawn, Maryland.  The acquisition loan was placed for a partnership comprised of Chicago-based, Blue Vista Capital Management, LLC, and Baltimore-based CSG Partners, LLC.

Milwaukee-based Grandbridge Senior Vice President Jim Cope arranged the financing through Kirk Booher with BB&T Real Estate Funding LLC. BB&T Real Estate Funding, a wholly-owned subsidiary of Grandbridge, provides first mortgage bridge loans for the acquisition of value-add commercial real estate.  The loan is a three-year floating rate, interest-only mortgage. The transaction structure offers future funding flexibility for capital improvements and future leasing costs. The current note rate is near five percent.     

Charlotte, N.C.-based Grandbridge has a broad investor base that includes insurance companies, pension fund advisors, CMBS lenders, commercial banks and capital markets investors, as well as a proprietary lending platform.

The company, a wholly-owned subsidiary of BB&T, is a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender and a Freddie Mac Program Plus® Seller/Servicer and Seniors Housing lender. Grandbridge is also a Multifamily Accelerated Processor (MAP) and LEAN healthcare approved active participant in products insured by the Federal Housing Administration (FHA).

The company arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. Grandbridge has a servicing portfolio of $25.7 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.