Grandbridge Funds $3.5 Million Miami Multifamily Property

Published On: 12.02.10

Grandbridge Real Estate Capital Fort Lauderdale-based Senior Vice President Lance Lehman originated a $3,500,000 first mortgage loan secured by Dadeland Vista Apartments, a 48-unit multifamily property in Miami, Florida.  Funding for the fixed rate refinance loan was provided by Fannie Mae under its DUS loan program with an interest rate in the mid-four percent range, a 10-year term, amortized over 30 years.  The gated community features a swimming pool, fitness center, air conditioned common areas and elevators.

About Grandbridge Charlotte, N.C.-based Grandbridge, a subsidiary of BB&T Corporation, has a broad investor base that includes insurance companies, pension fund advisors, commercial banks and capital markets investors, as well as a proprietary lending platform. 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 nationwide.

The company is a Fannie Mae DUS lender, a Freddie Mac Program Plus® Seller/Servicer and Targeted Affordable Housing lender and a MAP multifamily and LEAN healthcare approved participant in products insured by the Federal Housing Administration (FHA).  Grandbridge has a servicing portfolio of about $24.5 billion representing nearly 100 capital providers. 

About BB&T As of Sept. 30, BB&T is one of the largest financial services holding companies in the U.S. with $157.2 billion in assets and market capitalization of $16.7 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. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.