Grandbridge Closes $17.88 Million Florida Multifamily Acquisition

Published On: 02.12.15

TAMPA — Grandbridge Real Estate Capital closed a $17,880,000 loan and arranged JV equity for Camden Lakeside, a 228-unit garden-style multifamily community located in Brandon, Fla.

Funding for the fixed rate acquisition loan was provided through Fannie Mae’s DUS® loan product and featured a 10-year term and 30-year amortization with a two-year interest-only component. Senior Vice President Taylor Williams and Vice President Purvesh Gosalia originated the transaction.

Built in 1985 and located in the Tampa MSA, Camden Lakeside enjoys a superior location within Brandon, as it is across the street from the Brandon Regional Hospital and within minutes of the Westfield Brandon Mall and The Estuary, Tampa’s newest entertainment destination. Comprised of one- and two-bedroom apartments with private patios, walk-in closets and breakfast bars, the community's mature landscaping and two natural lakes provide residents with relaxing views. Additional amenities include a lakeside gazebo, fitness center, tennis courts and racquetball court.

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 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. More information about the company is available at 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.