Grandbridge Arranges Indianapolis Multifamily Refinance
Grandbridge Real Estate Capital recently closed a large loan secured by a leasehold mortgage in Indianapolis. Lockefield Gardens, a 493-unit community and clubhouse, is located on the campus of Indiana University-Purdue University Indianapolis (IUPUI) in Indianapolis.
Grandbridge Indianapolis-based Senior Vice President Ed Chandler originated the transaction.
“Grandbridge placed this refinancing with Ladder Capital Finance. The debt structure refinanced an existing loan and provided a long-term debt solution for the owner, Sexton Properties, an Indianapolis-based owner and manager of several apartment communities located throughout Indiana and Ohio,” Chandler said.
Funding for the permanent, fixed rate loan featured a 10-year term, 30-year amortization, and an initial period of interest only.
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.