Grandbridge Finances $40 Million Charlotte Hospitality Portfolio

Published On: 06.24.14

CHARLOTTE, N.C. — Grandbridge Real Estate Capital recently closed a portfolio of four hospitality assets (476 rooms) located in the Charlotte, N.C., MSA. The transaction involved debt of approximately $40 million. The properties include a 112-room Hilton Garden Inn located in Pineville, N.C.; a 127-room Hilton Garden Inn located in Rock Hill, S.C.; a 125-room Hampton Inn located in Charlotte, N.C.; and a 112-room Hilton Garden Inn located in Charlotte, N.C. 

The refinance was originated by Charlotte, NC.-based Vice President Chris Caison.  Funding for the fixed rate loan was provided through one of Grandbridge’s CMBS investors. CJ Webb of Grandbridge’s Charlotte office assisted in the transaction. 

 About Grandbridge Real Estate Capital
Based in Charlotte, N.C., Grandbridge is a subsidiary of Branch Banking and Trust Company (BB&T). The company 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 almost $29 billion, Grandbridge has a broad investor base of approximately 100 capital providers 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.

About BB&T
BB&T is one of the largest financial services holding companies in the U.S. with $184.7 billion in assets and market capitalization of $28.9 billion, as of March 31, 2014. Based in Winston-Salem, N.C., the company operates 1,824 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.