Grandbridge Finances $9.5 Million Colorado Office Center

Published On: 04.19.12

MILWAUKEE — Grandbridge Real Estate Capital recently originated and closed a $9,500,000 fixed rate acquisition bridge loan secured by The Offices at the Promenade, a 128,383 square foot office building located in Greenwood Village, Colorado. Built in 1974, this Class B office building is adjacent to the shops at Belleview Promenade. Situated on 8.76 acres of beautifully landscaped grounds, the property features a fountain surrounded by an inviting park setting.

The five-year interest-only loan closed with an interest rate of seven percent. Milwaukee-based Grandbridge Vice President Rob Meister arranged the bridge portfolio financing through RAIT Financial Trust. Meister was assisted in the transaction by Grandbridge Senior Analyst Dean Huber.

“This transaction required quick yet thorough underwriting and strong coordination of all third parties,” explained Meister. “A strong borrower with a great leasing track record and the property’s proximity to transportation and downtown coupled with Grandbridge’s ability to manage expectations made this deal work.”

Charlotte, N.C.-based Grandbridge has a broad investor base that includes insurance companies, pension fund advisors, CMBS lenders, commercial banks and capital markets investors, as well as a proprietary lending platform. The company, a wholly-owned subsidiary of BB&T, is a Fannie Mae DUS® lender, a Freddie Mac Program Plus® Seller/Servicer and an FHA MAP and LEAN approved lender.

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. Grandbridge has a servicing portfolio of more than $26 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.