Grandbridge Arranges $9.28 Million Mortgage for Atlanta Area Apartment Community

Published On: 03.01.12

ATLANTA — Grandbridge Real Estate Capital recently originated and closed a $9,280,000 first mortgage loan secured by Lealand Place Apartments, a 192 unit market rate apartment complex located in Lawrenceville, Georgia.  Funding for the acquisition loan was placed for a local owner operator through Freddie Mac's Capital Markets Execution SM (CME) loan product. Atlanta-based Grandbridge Vice President Alan Tapie arranged the financing. The 10-year fixed rate loan features two years of interest-only followed by a 30-year amortization.

“The transaction structure offers exceptional low interest rate financing for immediate strong cash flow, enabling the client to acquire the asset at a very low cost basis,” explained Tapie.

About Grandbridge Real Estate Capital LLC
Charlotte, N.C.-based Grandbridge, a subsidiary of Branch Banking and Trust Company (BB&T), has a 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 Multifamily Accelerated Processor (MAP) and LEAN healthcare lender.  

Grandbridge arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. The company has a current servicing portfolio of more than $25.7 billion and represents approximately 100 capital providers. More information about the company is available at www.gbrecap.com.