Grandbridge Facilitates $24.25 Million in Nonrecourse Bridge Seniors Housing Acquisitions

Published On: 05.10.17

HawthorneGardens_PacificPointeRetirementInnGrandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance Group recently facilitated the closing of two, nonrecourse bridge acquisition loans; a $12,000,000 first mortgage secured by Hawthorne Gardens, a 58-unit seniors housing community in Portland, Ore., and a $12,250,000 first mortgage secured by Pacific Pointe Retirement Inn, a 114-unit seniors housing community, also in Portland.

Originated by Senior Vice President Richard Thomas and Vice President Meredith Davis, the nonrecourse bridge loans were funded through Grandbridge’s exclusive proprietary lending platform, BB&T Real Estate Funding’s (BBTREF) structured loan product.

“Grandbridge worked closely with us to structure attractive financing solutions for these complex transactions,” said Curt Schaller, Principal of Focus Healthcare Partners. “Grandbridge has now facilitated the financing of 10 of our senior housing properties and has consistently delivered for us.”

Grandbridge's dedicated Seniors Housing and Healthcare Finance team offers construction, nonrecourse acquisition/bridge and permanent financing options to seniors housing owners nationwide. Combined, the team has nearly 60 years of industry experience and has closed more than $6 billion in seniors housing transactions since 2003.

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 Grandbridge.com.

About BB&T
BB&T is one of the largest financial services holding companies in the U.S. with $220.5 billion in assets and market capitalization of $36.3 billion as of March 31, 2017. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates more than 2,100 financial centers in 15 states and Washington, D.C. More information about BB&T and its full line of products and services is available at BBT.com.