Grandbridge Facilitates $29 Million Minnesota Multifamily Construction-Perm Financing

Published On: 07.06.17

GREC_$29M_St.LouisMN_MF_CarlsonGrandbridge Real Estate Capital recently closed a $29,000,000 first mortgage loan secured by a 110-unit multifamily community in St. Louis Park, Minnesota.

This construction-perm financing was originated by Minneapolis-based Vice President Tony Carlson

Funding for the fixed rate nonrecourse loan was provided through FHA’s 221(D)(4) loan product.

"The 221(D)(4) combination construction financing, and 40-year permanent loan term, enabled us to successfully facilitate the borrower's design goals for a high-end, class A building," Carlson said.

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; and 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 health care lender. 

With a 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

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