Benton House of West Ashley
Grandbridge Facilitated $9.48 Million Seniors Housing New Construction Loan
Grandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance team recently facilitated the closing of a $9,487,000 first mortgage loan secured by Benton House of West Ashley, a 59-unit, to-be-built seniors housing community in Charleston, S.C. Funding for the construction loan was provided by BB&T.
“Grandbridge, as a wholly owned subsidiary of BB&T, was able to utilize our fully integrated commercial finance platform to secure the construction loan with our BB&T lending associates to make sure the needs of our repeat client and the bank were met in this competitive environment,” said Senior Vice President Richard Thomas.
Grandbridge's dedicated Seniors Housing and Healthcare Finance team offers construction, nonrecourse acquisition / bridge and permanent financing options to seniors housing owners nationwide. The team has nearly 60 years of combined seniors housing experience and has closed more than $6 billion in seniors housing loan, sales and advisory transactions in the past 10 years.
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 Multifamily Approved Seller/Servicer for Conventional and Seniors Housing, a Fannie Mae DUS ® lender and an approved FHA MAP and LEAN healthcare lender.
With a current servicing portfolio of $29 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 US with $222.7 billion in assets and market capitalization of $39.1 billion as of June 30, 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, NC, BB&T operates more than 1,900 financial centers in 15 states and Washington, DC, 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.