Grandbridge Finances $98.58 Million Multifamily Mixed-Use New Construction

Published On: 12.21.15

Orange County, Calif. — Grandbridge Real Estate Capital recently closed a $98,584,548 loan to facilitate the construction and development of a state of the art, Class A mixed-use, multifamily complex located in Burbank, Calif.  

Financing was arranged by Orange County, Calif.-based Senior Vice President Tom Kenny. The construction loan was provided by Wells Fargo, N.A. and features four years of interest-only payments with two, one-year extension options.

The 327,698 square-foot to be built property will feature luxury multifamily units above ground floor retail. Scheduled to open in 2018, the property is located in the heart of Burbank’s media district across the street from NBC/Universal Studios, Clear Channel and Warner Brothers, and a short distance from The Walt Disney Company and Providence St. Joseph Medical Center. The borrower has finalized a lease with Whole Foods Market for the ground floor retail space, which will be the first Burbank location for the chain.

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 $29 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. For more information about Grandbridge, visit Grandbridge.com.