Grand Oaks at Crane Creek
Grandbridge Arranges $38 Million Georgia Multifamily Refinance
Grandbridge Real Estate Capital recently closed a $38,000,000 first mortgage loan secured by Grand Oaks at Crane Creek, a 300-unit multifamily community in Augusta, Ga.
The refinance loan was originated by Grandbridge Greenville, S.C., office co-managers Bill Mattice and Phillip Cox.
The permanent, floating rate loan was funded through Freddie Mac and featured an initial period of interest-only, a seven-year term and 30-year amortization, closing with an interest rate in the low three percent range.
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)