Grandbridge Funds $61 Million Virginia Multifamily Transaction with Freddie Mac CME

Published On: 12.02.10

A $61,189,000 first mortgage loan secured by Park at Arlington Ridge I, a 435-unit garden style multifamily property in Arlington, Va., was originated by Grandbridge Real Estate Capital’s Washington, D.C.-based Senior Vice Presidents Paul Aanonsen and Jack Bauer.  Funding for the fixed rate refinance loan was provided by Freddie Mac under its Capital Markets Execution (CME) product. “Freddie Mac’s CME product enabled the borrower to better manage its refinance risk and at a much lower interest rate than initially anticipated,” explained Aanonsen.

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.  For more information about Grandbridge and its locations, visit www.gbrecap.com.

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.