Grandbridge Real Estate Capital recently facilitated the closing of a $9,150,000 refinance loan secured by a 125-unit multifamily property in Atlanta, Ga. Originated by Senior Vice President Alan Tapie for a repeat client, the permanent, fixed rate, nonrecourse loan was funded through Fannie Mae’s DUS loan product. The transaction was structured with an initial interest only period, a 30-year term and 30-year amortization.
“The sponsorship was successful in implementing their renovation plan and stabilizing their operations and subsequently used Grandbridge and Fannie Mae’s DUS program for the refinance. The sponsor weighed numerous options for the refinance, but the Fannie Mae DUS product offered the right combination of low interest rate, proceeds, and interest-only period to meet their business plan,” stated Tapie.
About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, N.C., Grandbridge Real Estate Capital, a subsidiary of Truist Bank, 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. The company is a Freddie Mac Optigo® Conventional Multifamily, Seniors Housing and Targeted Affordable Housing lender, a Fannie Mae DUS® lender, and an approved FHA MAP and LEAN healthcare lender.
Truist Financial Corporation is a purpose-driven financial services company committed to inspire and build better lives and communities. With the combined history of BB&T and SunTrust, Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S. with total assets of $509 billion as of December 31, 2020. Truist Bank, Member FDIC. Learn more at Truist.com.