City Wholesale Distribution Center
Grandbridge Real Estate Capital recently closed a $2.2 million first mortgage secured by two single-story warehouse buildings in Birmingham, Ala.
The 6.52-acre property provides 81,480 square feet of net rentable area. The original building was built in 1985, with a second, smaller building added in the 1990s. The property is 100% owner occupied.
Birmingham, Ala.-based Vice President Paul Harbor originated the refinance transaction. Funding for the loan was arranged through one of Grandbridge’s insurance company correspondents.
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. 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.
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)