Grandbridge Arranges $51 Million Charleston Office Refinance

Published On: 04.25.17

Bank of America Place - CharlestonCHARLESTON, S.C. – Grandbridge Real Estate Capital recently closed a $51,000,000 first mortgage loan secured by Bank of America Place, the iconic 144,000 square foot Class “A” multi-tenant office building located in the heart of the historic and financial districts of Charleston, South Carolina. The four-story office building with ground floor retail fronting Meeting Street also offers an attached parking garage comprised of 355 spaces that enables direct access to each floor of the office building.

Grandbridge Charleston-based Vice President Russ Balderson and Kevin French originated the loan on behalf of Charleston Financial Center, LLC, a wholly owned subsidiary of Oceanside Resorts, Inc., which purchased the building in 2004.

“The loan was funded through AIG Global Real Estate, one of our top insurance company correspondents,” stated Balderson. "This transaction was extremely competitive among our capital providers given the high profile nature and quality of the asset. AIG Global Real Estate offered the most competitive terms along with flexibility to secure the business for our highly valued client.”

Widely recognized as Charleston's premier Class “A” office building, Bank of America Place has a classic design that fits seamlessly into its historic downtown neighborhood on the peninsula of Charleston. In addition to Bank of America, anchor tenants include New York Life, Morgan Stanley, Wells Fargo Advisors, Parker Poe Law Firm, and Resurgent Capital Services.

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 Freddie Mac Multifamily Approved Seller/Servicer for Conventional and Seniors Housing, a Fannie Mae DUS® lender and an approved FHA MAP and LEAN healthcare lender.

With a current servicing portfolio of $31 billion, Grandbridge, an S&P strong rated servicer, services loan portfolios and provides asset and portfolio management nationwide for all capital providers including Freddie Mac, Fannie Mae, Ginnie Mae, insurance companies, banks and more than 250 securitizations. More information about Grandbridge and its full line of products and services is available at