Grandbridge Finances $4.5 Million Bridge Loan on Dallas Apartment Community

Published On: 09.20.12

DALLAS—Grandbridge Real Estate Capital recently closed a $4,500,000 first mortgage loan secured Brandon Mill Apartments, 300-unit multifamily community in Dallas, Texas. The bridge loan was originated by Atlanta-based Senior Vice President Tom Walsh.

Funding for the fixed rate loan was provided by National Cooperative Bank. The three-year loan features a 30-year amortization and closed with an interest rate of 4.75 percent.

“The lender worked with us to structure the deal to meet our borrower’s specific needs and timing,” explained Walsh.

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 more than $26 billion and represents approximately 100 capital providers. More information about the company is available at www.gbrecap.com.   

About BB&T

As of June 30, 2012, BB&T is one of the largest financial services holding companies in the U.S. with $178.5 billion in assets and market capitalization of $21.6 billion. Based in Winston-Salem, N.C., the company operates approximately 1,800 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.