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. 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)