Seven Flags Sonoma
Grandbridge Arranges Loan for Northern California Manufactured Housing Community
Grandbridge Real Estate Capital recently facilitated a cash-out refinance for a 292-site manufactured home community in Sonoma, CA.
Newport Beach, CA-based Vice Presidents Hunter Curtis and Taylor Curtis originated the transaction for a first-time client. Grandbridge was able to achieve the borrower’s goals of a cash-out refinance, locking in a historically low, long-term interest rate and minimizing refinance risk for future generations. To do so, the nonrecourse financing was structured with a fully amortizing term and funded through one of Grandbridge’s insurance company correspondents.
The loan was secured by an undisclosed, age-restricted manufactured housing community on 39 acres in Sonoma County, CA.
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 Optigo℠ lender, a Fannie Mae DUS® lender and an approved FHA MAP and LEAN healthcare lender.
With a current servicing portfolio of $29.5 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 U.S. with $227.7 billion in assets and market capitalization of approximately $35.6 billion, as of March 31, 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, N.C., the company operates more than 1,800 financial centers in 15 states and Washington, D.C., 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.