Aloft, Cool Springs
Grandbridge Finances $17.5 Million Nashville Hospitality Acquisition
Grandbridge Real Estate Capital recently closed a $17,520,000 permanent first mortgage loan secured by the Aloft Nashville-Cool Springs, a 143-room hospitality property in the heart of Franklin, Tennessee’s Cool Springs area within the Nashville MSA.
Raleigh, NC-based Senior Vice President Gordon White originated the nonrecourse loan. Funding for the acquisition was arranged through one of Grandbridge’s CMBS correspondent lenders. The loan featured an initial period of interest-only and a 5-year term.
Amenities of the upscale, pet-friendly property include the xyz bar, re:mix lounge, re:charge fitness center/gym, an indoor pool, WiFi and numerous guest-centric services.
About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, NC, 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. The company is a Freddie Mac Optigo℠ lender, a Fannie Mae DUS® lender and an approved FHA MAP and LEAN healthcare lender.
With a current servicing portfolio of $72.3 billion, Grandbridge, an S&P "Strong" rated servicer, services loan portfolios and provides asset and portfolio management nationwide for all capital providers including Freddie Mac, Fannie Mae, Ginnie Mae, insurance companies, banks and more than 250 securitizations.
Loans are subject to credit approval.
Grandbridge Real Estate Capital is a subsidiary of Branch Banking and Trust Company(opens in a new tab), Member FDIC. Both are Equal Housing Lenders.
Branch Banking and Trust Company is now Truist Bank. Learn more(opens in a new tab)