Grandbridge Secures $2.6 Million Mortgage for Wisconsin Retailer

Published On: 07.27.11

Kohls_Menomonee_Falls

MILWAUKEE, WIS. — Grandbridge Real Estate Capital recently originated and closed a $2,600,000 first mortgage loan secured by the Kohl's - Menomonee Falls building.  Located in Menomonee Falls, Wis., the 98,256 square foot retail store built in 1992 and expanded in 1997, offers customers great access and visibility.

Milwaukee-based Grandbridge Vice President Mikko Erkamaa arranged the financing through American United Life Insurance Company. The loan is an eight-year term, which carries a fixed rate below four-percent.  Mr. Erkamaa was assisted by Dean Huber, Senior Analyst. Grandbridge closed the transaction in approximately 90 days.

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 bank, is a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender and a Freddie Mac Program Plus® Seller/Servicer and Targeted Affordable Housing lender. Grandbridge is also a Multifamily Accelerated Processor (MAP) and LEAN healthcare approved active participant in products insured by the Federal Housing Administration (FHA).

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. The company’s servicing portfolio of more than $24.6 billion represents nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.

As of June 30, 2011, BB&T is one of the largest financial services holding companies in the U.S. with $159 billion in assets and market capitalization of $18.7 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. More information about BB&T and its full line of products and services is available at www.BBT.com.