Grandbridge Funds $21.6 Million Multifamily Acquisition Financing

Published On: 04.09.12

Charlotte, N.C. — The Charlotte production office of Grandbridge Real Estate Capital recently originated and closed a $21,600,000 first mortgage loan secured by Morrison at SouthPark, a 214-unit Class A residential community located in Charlotte, North Carolina.  

Charlotte-based Grandbridge Senior Vice President Mike Ortlip arranged the acquisition financing through a major insurance company. “The lender believed in the buyer’s ability to acquire and optimize the operations of this incredible infill mixed-use property. Their willingness to deliver competitive pricing and a customized loan structure met all of the borrower’s needs, and the asset’s complicated condominium ownership structure called for a lender with the ability to think outside the box,” said Ortlip.

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 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 $26.13 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.