65 Dauphin Medical & Financial Center
Grandbridge Finances $8 Million Alabama Office Property
Grandbridge Real Estate Capital recently facilitated the closing of an $8,000,000 acquisition loan secured by 65 Dauphin Medical & Financial Center, a 67,664 square foot multi-tenant office building in Mobile, Alabama. Originated by Mobile-based Vice President Richard Alexander, the permanent, fixed rate, nonrecourse loan was funded through one of Grandbridge’s insurance company correspondents. The transaction was structured with a 10-year term and 25-year amortization, closing with an interest rate of 4.25 percent.
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)