Grandbridge Finances Nashville City Center II Parking Garage

Published On: 09.19.12

NASHVILLE, TENN. — Grandbridge Real Estate Capital recently closed an $8,735,000 first mortgage construction/permanent loan secured by the Nashville City Center II Parking Garage, a 143,668 square foot, 475-space subterranean parking facility in Nashville’s Central Business District. The development loan was originated by Houston-based Senior Vice President Gary Dunkum. Funding was provided by one of Grandbridge’s insurance correspondents. The five-year loan features a 25-year amortization, 18 months of interest-only and closed with an interest rate of 6.00 percent.

About Grandbridge Real Estate Capital LLC

Charlotte, N.C.-based Grandbridge, a subsidiary of Branch Banking and Trust Company (BB&T), has a 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. Grandbridge 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 current servicing portfolio of more than $26 billion and represents approximately 100 capital providers. More information about the company is available at www.gbrecap.com.   

About BB&T

As of June 30, 2012, BB&T is one of the largest financial services holding companies in the U.S. with $178.5 billion in assets and market capitalization of $21.6 billion. Based in Winston-Salem, N.C., the company operates approximately 1,800 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.