Grandbridge Finances $2.17 Million Calif. Self-Storage Property

Published On: 08.25.13

Los Angeles — Los Angeles-based Grandbridge Vice President Perry Colligan and Assistant Vice President Kelly Haddigan Chou arranged a $2,175,000 permanent loan secured by Carson Self-Storage, a 584-unit self-storage facility in Gardena, Calif.  

The refinance amount covered the unpaid balance and all transaction costs with no cash-out.  The nonrecourse loan, provided by one of Grandbridge’s CMBS lenders, was structured with a 10-year term and 30-year amortization.  The property was 82 percent leased at funding.  The buildings, located in the South Bay infill area, are well suited to self-storage and feature a broad unit mix, ranging from small three-foot square units to a large 390 square foot unit.  The gated property features keypad entry and provides 10 onsite parking spaces.

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 Freddie Mac Program Plus® Seller/Servicer, Fannie Mae Delegated Underwriting and Servicing (DUS®) lender and an approved FHA 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 almost $30 billion and represents approximately 100 capital providers. More information about the company is available at www.grandbridge.com.    

About BB&T

BB&T is one of the largest financial services holding companies in the U.S. with $182.7 billion in assets and market capitalization of $23.8 billion, as of June 30, 2013. Based in Winston-Salem, N.C., the company operates 1,851 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.