Burnsville West

Burnsville West

  • $1,200,000
  • 31,900 square feet
  • Acquisition
  • Insurance company
  • Originated by Dave Rasmussen

Grandbridge Closes $1,200,000 Cash Out Permanent Loan

Grandbridge Real Estate Capital recently closed a $1,200,000 permanent loan on a 31,900 square foot office/warehouse located in Burnsville, Minnesota.

Minneapolis-based Senior Vice President Dave Rasmussen originated the transaction.

“Our borrower sought a permanent loan that provided cash out with a long-term, fixed rate loan for a period of 10 years. The lender is a correspondent life insurance company that not only met all the borrower’s investment objectives but also provided the best interest rate in the market in the lower four percent range,” stated Rasmussen.

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 Multifamily Approved Seller/Servicer for Conventional and Seniors Housing, a Fannie Mae DUS ® lender and an approved FHA MAP and LEAN healthcare lender.

With a current servicing portfolio of $29 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.

About BB&T

BB&T is one of the largest financial services holding companies in the US with $222.7 billion in assets and market capitalization of $39.1 billion as of June 30, 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, NC, BB&T operates more than 1,900 financial centers in 15 states and Washington, DC, 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.

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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. Equal Housing Lender