Lakeshore Park Plaza

Lakeshore Park Plaza

Grandbridge Facilitates $20.45 Million Alabama Office Property

Grandbridge Real Estate Capital recently facilitated the closing of a $20,450,000 acquisition loan secured by Lakeshore Park Plaza, a 196,871 square foot, multi-tenant office building in Birmingham, AL.

Originated by Greenville-based Senior Vice Presidents Phillip Cox and Bill Mattice, 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 30-year amortization.

Built in 1980, and renovated in 2016, the Class A office building is situated on a 13-acre site along Lakeshore Drive, an ideal Midtown location with close proximity to top retail destinations and easy access to the area's primary transportation arteries. The four-story building was 93 percent occupied at closing.

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 Optigo℠ lender, a Fannie Mae DUS® lender and an approved FHA MAP and LEAN healthcare lender.

With a current servicing portfolio of $29.5 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 U.S. with $227.7 billion in assets and market capitalization of approximately $35.6 billion, as of March 31, 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, N.C., the company operates more than 1,800 financial centers in 15 states and Washington, D.C., 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