Grandbridge Real Estate Capital recently facilitated the closing of an $8,000,000 acquisition loan secured by 65 Dauphin Medical & Financial Center, a 67,664 square foot multi-tenant office building in Mobile, Alabama. Originated by Mobile-based Vice President Richard Alexander, the permanent, fixed rate, nonrecourse loan was funded through one of Grandbridge’s insurance company correspondents. The transaction was structured with a 10-year term and 25-year amortization, closing with an interest rate of 4.25 percent.
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 OptigoSM lender, a Fannie Mae DUS® lender and an approved FHA MAP and LEAN health care 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 $230.9 billion in assets and market capitalization of approximately $37.6 billion as of June 30, 2019. 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 1,700 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.
