Grandbridge Finances $27 Million Georgia Multifamily Property

Published On: 02.04.14

Woodstock GA MFATLANTA — Grandbridge Real Estate Capital recently closed a $27,000,000 first mortgage loan secured by a 308-unit multifamily property in Woodstock, Ga.  This refinance transaction was originated by Atlanta-based Senior Vice President Alan Tapie.

“The broad range of service capabilities that Grandbridge offers were an integral part in the transaction,” stated Tapie. “Grandbridge’s parent company, BB&T, provided the construction loan for the property and during lease up Grandbridge secured the nonrecourse permanent loan to pay off the construction debt. The loan was structured with a forward rate lock that allowed the borrower to hedge interest rate movement until the property reached stabilization.”

The property features a luxury pool, high end fitness center with yoga studio, cabanas with picnic areas and fire pits, business center, coffee bar and greenway access all within walking distance of downtown. 

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
As of December 31, 2013, BB&T is one of the largest financial services holding companies in the U.S. with $182.3 billion in assets and market capitalization of $26.4 billion. Based in Winston-Salem, N.C., the company operates 1,825 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. More information about BB&T and its full line of products and services is available at www.bbt.com.