Grandbridge Finances $2.8 Million Florida Mixed-Use Industrial Portfolio

Published On: 07.23.15

Mixed-Use Portfolio - FloridaBirmingham, Ala. — Grandbridge Real Estate Capital recently closed a $2,800,000 first mortgage loan secured by a five-property portfolio of mixed-use/industrial buildings located in Sanford, Fla.

The refinance transaction, originated by Birmingham, Ala.-based Senior Vice President John Segrest, was funded through one of Grandbridge’s insurance company correspondent relationships and featured a 10-year term and 20-year amortization.

The portfolio consists of four single-story industrial buildings and one single-story office building totaling 80,850 combined square feet on 7.39 acres of land. The industrial buildings were built in 1983-1984, and the office building was built in 1944. The subjects are 100 percent leased and partially owner occupied. The loan-to-value is 69 percent with a 1.64x debt coverage ratio.

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 $28.8 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
As of June 30, 2015, BB&T is one of the largest financial services holding companies in the U.S. with $191 billion in assets and market capitalization of $29.6 billion. Based in Winston-Salem, N.C., the company operates 1,903 financial centers in 13 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.