Grandbridge Prodvides Financing for $40 Million Acquisition

Published On: 08.25.15

Minneapolis, Minn. — Grandbridge Real Estate Capital recently closed a first mortgage loan secured by a 420,000 square feet of office space in a Mendota Heights, Minn. The six-building office park was acquired for $40 million. Minneapolis-based Tony Carlson originated the acquisition financing for the buyer.

Funding for the loan was provided by BB&T Real Estate Funding, Grandbridge’s exclusive stabilized loan product, and featured a fixed rate for the entire 10-year term and 25-year amortization. The loan required no personal guaranty and closed with a low interest rate and flexible structure to facilitate borrower objectives.

“The loan funded on time and met our repeat client’s timing goals for the acquisition,” explained Carlson.

About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, N.C., Grandbridge Real Estate Capital, a subsidiary of Branch Banking and Trust Company (BB&T), arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management through its 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. With a current servicing portfolio of more than $28.8 billion, Grandbridge, an S&P “Strong” rated servicer, services loan portfolios and provides asset and portfolio management nationwide for all capital providers including Fannie Mae, Freddie Mac, Ginnie Mae, insurance companies, banks and more than 250 securitizations. For more information about Grandbridge, visit Grandbridge.com.

About BB&T
BB&T is one of the largest financial services holding companies in the U.S. with approximately $210 billion in assets and market capitalization of approximately $31.3 billion, as of August 17, 2015. Based in Winston-Salem, N.C., the company operates 2,149 financial centers in 15 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 the U.S. Small Business Administration, Greenwich Associates and others. BB&T has also been named one of the World’s Strongest Banks by Bloomberg Markets Magazine, one of the top three in the U.S. and in the top 15 globally. More information about BB&T and its full line of products and services is available at BBT.com.