Grandbridge Secures Refinance Funding for $10.3 Million Arizona Office

Published On: 02.02.12

MINNEAPOLIS, MINN. — Grandbridge Real Estate Capital recently originated and closed a $10.3 million permanent loan secured by Gateway Center in Tucson, Arizona. The 76,268 square foot property was 100% leased at closing.

Minneapolis-based Grandbridge Vice President Tony Carlson arranged the financing through one of Grandbridge’s credit company relationships. The borrower sought the long-term nonrecourse refinance to replace acquisition recourse financing funded through a local bank.  Grandbridge’s loan structure allowed the borrower to rate lock for the duration of the lease term, an attractive option not available through the previous local banking relationship.

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 Seniors Housing lender, as well as 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 $25.7 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.