Grandbridge Finances $24.5 Million Medical Office Building

Published On: 03.05.14

RALEIGH, N.C. — Grandbridge Real Estate Capital recently closed a $24,500,000 first mortgage loan secured by American Institute of Health and Fitness, a 181,004 square foot medical office building in Raleigh, N.C. 

The refinance transaction, originated by Raleigh-based Senior Vice President Robert Hukill and Assistant Vice President Wesley Fricks, was funded through one of Grandbridge’s CMBS relationships and featured a 10-year term. Property amenities include state-of-the-art medical care, exercise, nutrition, wellness and counseling services that are personalized to assist individuals to achieve optimum lifelong health through prevention, education, diagnosis, treatment and research.

“American Institute of Healthcare and Fitness is strategically located in the midst of a strong demographic in North Raleigh,” stated Fricks. “The integration of leading healthcare providers coupled with a mix of local practices alongside fitness and wellness components is a new centralized model that was envisioned by our borrower and was well received by the market.”

About Grandbridge Real Estate Capital LLC
Grandbridge Real Estate Capital arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. With a current servicing portfolio of approximately $29 billion, Grandbridge represents approximately 100 capital providers.

Based in Charlotte, N.C., 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 DUS® lender, a Freddie Mac Program® Plus Seller/Servicer, and an approved FHA MAP and LEAN healthcare lender.

More information about the company is available at www.grandbridge.com.