Grandbridge acquires Quantum First Capital

Published On: 09.30.09

DALLAS – Grandbridge Real Estate Capital LLC, a wholly owned subsidiary of BB&T Corporation and one of the nation’s largest full-service commercial and multifamily mortgage banking firms, today said it has acquired Dallas, Texas-based Quantum First Capital (QFC).

“This purchase continues our geographic expansion into the attractive Texas market after our successful Houston acquisition of Live Oak Capital in late 2008,” said Grandbridge CEO Thomas S. Dennard.

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QFC was established in 1998 by Stuart Wernick and closed approximately $5 billion in debt and equity transactions under his direction. He was recognized three times by the North Texas Association of Commercial Realtors as the Top Investment Banker in Dallas/Fort Worth. Wernick will manage a new Grandbridge loan origination office in Dallas.

“The various sources of capital that Grandbridge brings us, from agency lending to the BB&T Real Estate Funding product, will enable us to better service our clients’ needs in today’s challenging commercial real estate financing market,” Wernick said.

In a pair of notable transactions arranged through Fannie Mae, QFC originated a $630 million credit facility for the privatization of Walden REIT and structured the first student housing credit facility.

“We’re enthusiastic about bringing QFC’s experienced multifamily production team onboard,” said Grandbridge President and Chief Operating Officer David A. Roberts. “Stuart and his associates make an outstanding addition to our company and illustrate the high quality talent that the Grandbridge business model continues to attract.”

Prior to forming QFC, Wernick directed and managed the Chase Bank of Texas Dallas/Fort Worth real estate investment banking division.

Charlotte, N.C.-based Grandbridge has a broad investor base that includes insurance companies, pension fund advisors, commercial banks and capital markets investors, as well as a proprietary lending platform.

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

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 about $24.8 billion representing nearly 100 capital providers.

For details on the acquisitions and more information about Grandbridge and its locations, visit www.gbrecap.com.

At June 30, BB&T Corporation had $152.4 billion in assets and was the nation’s 11th largest financial holding company. Founded in 1872, it operates more than 1,500 financial centers in 11 states and Washington, D.C. More information about the company is available at BBT.com.

Contacts

BUSINESS

Thomas S. Dennard
Grandbridge CEO
704.379.6910

Stuart Wernick
Grandbridge SVP
214.346.0200

MEDIA

Patricia Muse
Grandbridge Marketing
205.978.1139