Grandbridge Closes Atlanta Multifamily Acquisition

Published On: 06.28.12

ATLANTA — Grandbridge Real Estate Capital recently originated and closed a $4,000,000 first mortgage loan secured by Stonebridge Apartments, a 240-unit, 1980s vintage multifamily community in Stone Mountain, Georgia.

Atlanta-based Vice President Alan Tapie arranged the acquisition financing through CMFG Life Insurance Company.

The five-year, fixed rate mortgage features low interest rate and a 25-year amortization.

“The property was in good condition and maintained good in-place cash flow. Grandbridge was able to secure an insurance company loan that enabled the borrower to acquire and enhance the property with capital improvements on a nonrecourse basis,” said Tapie.

Charlotte, North Carolina-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 DUS© lender, a Freddie Mac Program Plus© Seller/Servicer and 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 $26 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.