Grandbridge Finances $33 Million Texas Multifamily Community

Published On: 09.19.14

HOUSTON — Grandbridge Real Estate Capital recently closed a $33,000,000 first mortgage loan secured by a 376-unit Class A multifamily property in Rosenberg, Texas. This refinance transaction was originated by Houston-based Tip Strickland and David Schwarz. Funding for the loan was arranged through one of Grandbridge’s CMBS correspondents.

Located 35 miles southwest of Houston, the community is comprised of spacious one-, two-, and three-bedroom apartment homes that feature numerous high-end amenities such as include granite countertops, kitchen islands, stainless steel appliances, full-sized washers and dryers, patios/balconies and attached garages. The gated community’s club house offers residents a big screen TV viewing area as well as a state-of-the-art fitness center with yoga and aerobics rooms, an indoor basketball court, video game room, billiards room, Wi-Fi café and business center with conference room. Outside amenities include a resort style pool, a grille house with gas grills and dog park.

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 Fannie Mae DUS® lender, a Freddie Mac Program Plus® Seller/Servicer, 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.