Grandbridge Secures $4.8 Million Mortgage for Waukesha Apartments

Published On: 03.29.11

MILWAUKEE — Grandbridge Real Estate Capital recently originated and closed a $4,800,000 first mortgage loan secured by Riverwalk Apartments, a 136-unit residential community located on the Fox River near downtown Waukesha, Wisconsin. The loan was placed for Madison, Wis.-based Urban Land Interests, Inc.

Milwaukee-based Grandbridge Senior Vice President Jim Cope and Vice President Justin Nelson originated the transaction. Funding for the fixed rate refinance loan was provided by Fannie Mae under its Delegated Underwriting and Servicing (DUS®) loan program with an interest rate near five percent and a 10-year term, amortiz ed over 30 years. 

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, 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).

The company arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. Grandbridge has a servicing portfolio of more than $24.3 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.

As of December 31, 2010, BB&T is one of the largest financial services holding companies in the U.S. with $157.1 billion in assets and market capitalization of $18.3 billion. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C. More information about BB&T and its full line of products and services is available at www.BBT.com.

MILWAUKEE — Grandbridge Real Estate Capital recently originated and closed a $4,800,000 first mortgage loan secured by Riverwalk Apartments, a 136-unit residential community located on the Fox River near downtown Waukesha, Wisconsin.  The loan was placed for Madison, Wis.-based Urban Land Interests, Inc.
Milwaukee-based Grandbridge Senior Vice President Jim Cope and Vice President Justin Nelson originated the transaction. Funding for the fixed rate refinance loan was provided by Fannie Mae under its Delegated Underwriting and Servicing (DUS®) loan program with an interest rate near five percent and a 10-year term, amortized over 30 years. 
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, 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).
The company arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. Grandbridge has a servicing portfolio of more than $24.3 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.
As of December 31, 2010, BB&T is one of the largest financial services holding companies in the U.S. with $157.1 billion in assets and market capitalization of $18.3 billion. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C.  More information about BB&T and its full line of products and services is available at www.BBT.com.