Grandbridge Finances $11 Million Distribution Center

Published On: 06.15.12

KANSAS CITY, Mo. — Grandbridge Real Estate Capital recently originated and closed an $11,000,000 first mortgage loan secured by Anda Pharmaceuticals Distribution Center, a single tenant industrial/warehouse property in Olive Branch, Miss., a Memphis, Tenn., submarket. Kansas City-based Executive Vice President Tom Turner arranged the acquisition funding on the 234,660 square foot warehouse through Thrivent Financial for Lutherans. The 10-year loan closed with an interest rate of 4.8 percent with a 16-year amortization.

“An investment-grade tenant on a long-term lease in a new Class A industrial/warehouse distribution center, combined with a strong institutional borrower, were all in our favor as we worked with Thrivent to close the loan within a short time span to meet the borrower’s needs,” said Turner.

About Grandbridge Real Estate Capital LLC

Charlotte, N.C.-based Grandbridge, a subsidiary of Branch Banking and Trust Company (BB&T), has a 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 Delegated Underwriting and Servicing (DUS®) lender, a Freddie Mac Program Plus® Seller/Servicer, and an approved FHA Multifamily Accelerated Processor (MAP) and LEAN healthcare lender. Grandbridge 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 current servicing portfolio of $26 billion and represents approximately 100 capital providers. More information about the company is available at www.gbrecap.com.    

About BB&T

BB&T Corporation (NYSE: BBT) is one of the largest financial services holding companies in the U.S. with $174.8 billion in assets and market capitalization of $21.9 billion, as of March 31, 2012. Based in Winston-Salem, N.C., the company operates approximately 1,800 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. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.