Hilton Garden Inn, Woodlands
Grandbridge Arranges $12.95 Million Houston Hospitality Refi
Grandbridge Real Estate Capital recently closed a $12,955,000 first mortgage loan secured by Hilton Garden Inn - Woodlands, a 117-room, select service hospitality property in the Woodlands area of Houston, Texas.
The refinance transaction was originated by Grandbridge Greenville, S.C. office co-managers Bill Mattice and Phillip Cox for a repeat client. The permanent, fixed rate loan was funded through The Bancorp, one of Grandbridge's CMBS investor relationships and featured a 10-year term and 30-year amortization.
“The borrower is a current Grandbridge client. This transaction is a refinance of a loan that we placed 10 years ago. Grandbridge, the borrower and Bancorp all worked together diligently to obtain a year-end close,” said Cox.
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.
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.