Grandbridge Finances $11 Million Class A Tallahassee Office Building

Published On: 04.22.15

Grandbridge Real Estate Capital recently closed an $11,000,000 first mortgage loan secured by an 80,000-square foot, Class A office building in Tallahassee, Fla. 

The refinance transaction, originated by Greenville, S.C.-based Bill Mattice and Phillip Cox, was funded through one of Grandbridge’s insurance company correspondent relationships and featured a 20-year term and 20-year amortization.

“The borrower was looking for long-term interest rate protection, so we paired him up with a lender that could offer a fully amortizing 20-year loan while still allowing flexible prepayment options. The borrower is a very hands-on and detailed asset manager/owner. We were impressed by the level of detail in the information he provided as well as his knowledge of the building and the leases, and his personal relationships with all of the tenants. The professionalism of the borrower and its property management firm, NAI Talcor, made for a very smooth closing process. It's always fun to work on deals in my hometown, and I appreciate the borrowergiving us the opportunity to earn his loyal business,” Mattice 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, 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.