The Center for Sports Medicine and Orthopaedics
Grandbridge Facilitates North Georgia Office Property Refinance
Grandbridge Real Estate Capital recently closed a $2,800,000 first mortgage loan secured by The Center for Sports Medicine and Orthopaedics, a recently built 13,180 square foot medical office within the TN-GA MSA in Ringgold, Georgia.
Grandbridge Greenville-based Senior Vice Presidents Phillip Cox and Bill Mattice originated the transaction.
Funding for the permanent, fixed rate loan was provided through one of Grandbridge’s insurance company correspondents. The nonrecourse financing was structured with a 20-year term and 20-year amortization.
The one-story, single-tenant medical office property is conveniently located 10 miles southeast of the Chattanooga Central Business District. The facility is the first phase of a 20-acre hospital campus site being jointly developed by the Catoosa County Economic Development Authority and Armour Commercial Real Estate.
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)