Grandbridge Real Estate Capital recently closed a $1,760,000 first mortgage secured by a 49-unit partially affordable, age-restricted property in Port Washington, Wis. The refinance loan was originated by Minneapolis-based Vice President Tony Carlson.

he loan was funded through one of Grandbridge’s life insurance company correspondents and featured a 15-year term with a 15-year amortization. The transaction closed with a fixed interest rate in the mid four percent range. The sponsor and Carlson are both graduates of the University of Wisconsin-Madison and a donation to the Wisconsin Real Estate Alumni Association was made to commemorate the transaction.

About Grandbridge Real Estate Capital LLC

Headquartered in Charlotte, N.C., 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 $29.5 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. More information about Grandbridge and its full line of products and services is available at Grandbridge.com.

About BB&T 

BB&T is one of the largest financial services holding companies in the U.S. with $225.7 billion in assets and market capitalization of approximately $33.1 billion as of December 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., BB&T operates more than 1,900 financial centers in 15 states and Washington, D.C. More information about BB&T and its full line of products and services is available at BBT.com.