Grandbridge Facilitates Minnesota Industrial Financing

Published On: 05.24.17

Grandbridge Real Estate Capital recently closed a $9,000,000 first mortgage loan secured by a 221,000 square foot multi-tenant industrial property in Rogers, Minn.

Grandbridge Minneapolis, Minn.-based Vice Presidents Brett Olson and Dick Riley originated the transaction.

“Grandbridge arranged funding of the permanent, fixed rate loan through Nationwide, one of our insurance company correspondents. We structured the five-year nonrecourse loan with a three-year period of interest-only followed by a 30-year amortization,” said Olson. “The loan closed with an interest rate below 4.0 percent.”

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 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.