Grandbridge Funds $16.5 Million Ohio Multifamily Community

Published On: 10.26.11

COLUMBUS, OHIO — Grandbridge Real Estate Capital recently originated and closed a $16,500,000 first mortgage loan secured by The Orleans, a 250-unit multifamily property in Columbus, Ohio.

The permanent, fixed rate funding was provided through Freddie Mac’s Capital Markets ExecutionSM (CME) loan product. The 10-year refinance amortizes on a 30-year schedule. Grandbridge Columbus-based Senior Vice President Ted Schmidt and Vice President David Poe arranged the transaction.

Amenities to the garden-style community include a clubhouse with business center and a movie theater.

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 bank, is a Freddie Mac Program Plus® Seller/Servicer, Seniors Housing and Targeted Affordable Housing lender and a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender. Grandbridge is also a Multifamily Accelerated Processor (MAP) and LEAN healthcare approved active participant in products insured by the Federal Housing Administration (FHA).

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 $25.3 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.