Grandbridge Arranges $18.6 Million 15-Property Retail Portfolio Refinance
Grandbridge Real Estate Capital recently closed an $18.6 million first mortgage loan secured by 15 retail properties in six states. Major tenants include Dollar General, Family Dollar, AutoZone, Advanced Auto, and Goodyear.
Grandbridge Greenville, S.C., office co-managers Bill Mattice and Phillip Cox originated the transaction for a repeat client.
The permanent, fixed rate refinance loan was structured with a 10-year term and 30-year amortization and funded through one of Grandbridge’s CMBS correspondents.
“This transaction was a downleg of a 1031 exchange for a deal that Grandbridge previously financed and the client sold,” said Cox. “The majority of the properties in the portfolio are new construction and located in multiple states. Grandbridge was able to coordinate through one of our CMBS correspondents the simultaneous closing of all the locations and help the client position these assets for a long-term hold.
About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, NC, Grandbridge Real Estate Capital LLC, a subsidiary of Truist Bank, 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.
Grandbridge Real Estate Capital LLC is a subsidiary of Truist Bank, Member FDIC. Both are Equal Housing Lenders.
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