I-10 Business Park
Grandbridge Facilitates $37.38 Million in Alabama Industrial Property Loans
Grandbridge Real Estate Capital recently facilitated the closing of a $13,100,000 first mortgage loan secured by I-10 Business Park, an industrial/bulk warehouse complex in Loxley, AL. The permanent, fixed rate loan was originated by Birmingham, AL-based Senior Vice President William Silsbee for a repeat client and funded through one of Grandbridge’s insurance company correspondents. “The distribution/warehouse complex was built between 1997 and 2008, and features seven, one-story buildings totaling 977,520 square feet of rentable space,” said Silsbee.
Silsbee also originated a $12,780,000 first mortgage loan secured by Oxmoor South, a 528,428 square foot warehouse/industrial property in Birmingham. The permanent, fixed rate loan was funded through one of Grandbridge’s insurance company correspondents. “The property is functionally desirable as a warehouse/distribution space. It features 27-foot ceilings, multiple loading capacities, reinforced five-inch concrete floors and tilt-up concrete walls,” said Silsbee.
The $11,500,000 first mortgage refinance of Distribution Center was another Silsbee-originated warehouse/industrial transaction. Located in Birmingham, the 515,000 square foot facility was also funded through one of Grandbridge’s insurance company correspondent relationships.
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.