Grandbridge Facilitates Funding of $20+ Million in Georgia Retail Transactions
Grandbridge Real Estate Capital Senior Vice President Alan Tapie recently closed two Georgia retail transactions totaling $20,087,500.
Tapie structured a permanent, fixed rate acquisition loan secured by Reynolds Crossing Retail, a 48,809 square foot grocery anchored retail center in Duluth, Ga. Funded through one of Grandbridge’s insurance company correspondents, the $9,850,000 transaction featured a 7-year term and 25-year amortization.
Originated by Atlanta-based Tapie for a repeat client; Grandbridge recently facilitated the closing of a $10,237,500 acquisition loan secured by Togwotee Village, a 109,680 square foot retail specialty center in Fayetteville, Ga. The permanent, fixed rate loan was funded through one of Grandbridge’s Credit Union correspondents and was structured with an initial period of interest-only, a 10-year term and 25-year amortization.
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.