Grandbridge Finances $2.3 Million Retail Property Acquisition

Published On: 01.20.16

Minneapolis, Minn. — Grandbridge Real Estate Capital recently closed a $2,300,000 loan for the acquisition of a retail property in Buffalo, Minn. Minneapolis-based Vice President Tony Carlson originated the transaction. 

Funding for the loan was provided through one of Grandbridge’s correspondent life insurance company relationships. The transaction closed with a low fixed interest rate and featured a fully amortizing 20-year term, 20-year amortization.

“Grandbridge successfully structured this transaction to meet our first time client’s financing objectives, including a very competitive interest rate, and funded on time to meet the obligations of their acquisition,” explained Carlson.        

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 $29 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. For more information about Grandbridge, visit Grandbridge.com.

About BB&T
As of December 31, 2015, BB&T is one of the largest financial services holding companies in the U.S. with $209.9 billion in assets and market capitalization of $29.5 billion. Based in Winston-Salem, N.C., the company operates 2,139 financial centers in 15 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 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 BBT.com.