Grandbridge Real Estate Capital recently facilitated the closing of a $13,000,000 refinance loan secured by Hampton Inn & Suites, a 137-room, select service Hilton-flagged hotel in Baton Rouge, Louisiana.
Originated by Greenville-based Senior Vice Presidents Phillip Cox and Bill Mattice, the permanent,fixed rate nonrecourse loan was funded through BB&T Real Estate Funding’s Stabilized loan program. The transaction was structured with three years of interest-only, followed by a 25-year amortization.
Opened in 2013, the seven-story, 84,100 square foot building is located at the intersection of Main Street and Lafayette Street in downtown Baton Rouge. Guest amenities include a business center, conference and meeting rooms, a fitness center and 24-hour Pavilion Pantry Market.
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 $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.
