Crowne Gardens Apartments
Grandbridge Finances $17.2 Million North Carolina Multifamily Property
Grandbridge Real Estate Capital recently facilitated the closing of a $17,200,000 refinance loan secured by Crowne Gardens Apartments, a 344-unit multifamily community in Greensboro, N.C. Originated by Birmingham, Ala.-based Senior Vice President William Silsbee for a repeat client, the permanent, fixed rate nonrecourse loan was funded through one of Grandbridge’s insurance company correspondents with two years of interest-only, a 7-year term and 30-year amortization.
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.
Grandbridge Real Estate Capital is a subsidiary of Truist Bank, Member FDIC. Both are Equal Housing Lenders.
Loans are subject to credit approval. © 2020