Laumeier Office Park
Grandbridge Facilitates $24.6 Million St. Louis Office Portfolio
Grandbridge Real Estate Capital recently facilitated the closing of an $24,600,000 first mortgage acquisition loan secured by Laumeier I, II, & IV, a 290,925 square foot suburban office portfolio in St. Louis, Missouri. Originally built between 1987 and 1990, the buildings were renovated in 2014. The portfolio includes a diverse building mix with one single-tenant and two multi-tenant buildings. Major tenants include Panera Bread Company, New Balance, Inc., and AMN Healthcare, Inc.
Kansas City-based Senior Vice President Joe Platt originated the transaction. The nonrecourse fixed rate loan closed with a 4.40% interest rate, 10-year term, and two years I/O followed by a 25-year amortization. The loan was funded through BB&T Real Estate Finance’s Stabilized loan product.
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.
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.
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)