Aloft, Cool Springs

Aloft, Cool Springs

  • $17,520,000
  • 143 rooms
  • Acquisition
  • CMBS
  • Originated by Gordon White

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, as well as its proprietary lending platform, BB&T Real Estate Funding. The company is a Freddie Mac Multifamily Approved Seller/Servicer for Conventional and Seniors Housing, a Fannie Mae DUS ® lender and an approved FHA MAP and LEAN healthcare lender.

With a current servicing portfolio of $29 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.

About BB&T

BB&T is one of the largest financial services holding companies in the US with $222.7 billion in assets and market capitalization of $39.1 billion as of June 30, 2018. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, NC, BB&T operates more than 1,900 financial centers in 15 states and Washington, DC, and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.

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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. Equal Housing Lender