Grandbridge Provides Financing for The Bricks Perimeter Center

Published On: 01.07.16

ATLANTA — Grandbridge Real Estate Capital closed a $52,000,000 acquisition loan secured by the first mortgage on The Bricks Perimeter Center, a 448-unit apartment community located at 302 Perimeter Center North in Atlanta, Ga. 

The acquisition loan was originated by Atlanta-based Senior Vice President Alan Tapie and Assistant Vice President Thomas Wiedeman.

Funding for the loan was provided through BB&T Real Estate Funding, a proprietary lending program of Grandbridge Real Estate Capital. The nonrecourse loan featured an interest-only period and a fixed interest rate below four percent with a very flexible prepayment structure.

“To meet the client’s needs we were able to structure a long-term permanent loan with the flexibility of a short-term bank loan, giving the client options during the loan term,” Tapie said.

After the planned renovation, the building will feature a new clubhouse, landscaping and common area improvements, as well as upgraded unit interiors.

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 $29 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
As of September 30, 2015, BB&T is one of the largest financial services holding companies in the U.S. with $208.8 billion in assets and market capitalization of $27.8 billion. More information about BB&T and its full line of products and services is available at BBT.com.