Grandbridge Finances $8,850,000 Bi-Lo Anchored Retail Center

Published On: 03.05.15

Raleigh, N.C. — Grandbridge Real Estate Capital recently closed an $8,850,000 first mortgage loan for the acquisition of Camfield Corners, a 69,857 square foot shopping center anchored by Bi-Lo located in the Ballantyne-area of Charlotte, N.C 

Raleigh-based Wesley Fricks originated the transaction on behalf of a New York-based borrower.

Grandbridge successfully worked with the borrower and lender to structure the transaction to meet the borrower’s objectives and the acquisition timeline. This collaborative relationship enabled the borrower to accomplish all set goals to ensure the long-term success of the investment. Grandbridge worked with Starwood Mortgage Capital, a CMBS lender, to provide a fixed-rate, 10-year mortgage with a 30-year amortization. The property was 97 percent occupied at closing. 

“With the work on Elm Lane, which fronts the property, finally complete, and the strength of the surrounding demographics, we feel this center is well-positioned for continued success,” explained Fricks.

About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, N.C., Grandbridge Real Estate Capital, a subsidiary of Branch Banking and Trust Company (BB&T), arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management through its 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.

With a current servicing portfolio of more than $28 billion, Grandbridge, an S&P “Strong” rated servicer, services loan portfolios and provides asset and portfolio management nationwide for all capital providers including Fannie Mae, Freddie Mac, Ginnie Mae, insurance companies, banks and more than 250 securitizations. More information about the company is available at grandbridge.com.

About BB&T
BB&T is one of the largest financial services holding companies in the U.S. with $186.8 billion in assets and market capitalization of $26.8 billion, as of Dec. 31, 2014. Based in Winston-Salem, N.C., the company operates 1,839 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 BBT.com.