Grandbridge Finances $9.1 Million Columbus Multifamily Property

Published On: 07.01.14

The refinance was originated by Columbus-based Senior Vice President Craig Kegg. Funding for the fixed rate loan was provided through BB&T Real Estate Funding, Grandbridge’s exclusive proprietary lending platform. Mary Zofko in Grandbridge’s Columbus office assisted in the transaction. 

“We knew the project inside and out. We were treated as part of the development team from day one. Grandbridge participated in raising the equity and debt for the construction of the project and sourced the capital associated with permanent financing once complete. The principals of Benchmark became friends as well as clients. The clients’ willingness to be inclusive facilitated optimal solutions every step of the way,” stated Kegg.

"Partnering with Grandbridge Real Estate Capital not only made our project possible, it made it a success! Through the entire development cycle, Grandbridge uncovered financing opportunities that added immeasurable value to our process,” said The Benchmark Apartments developer Elizabeth Buchenroth.

 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. More information about BB&T and its full line of products and services is available at www.bbt.com.