Grandbridge Real Estate Capital recently closed a $42,421,000 first mortgage loan secured by Live Oak Square, a 200,410 square foot, multi-tenant office building in Atlanta, Ga.
Grandbridge Atlanta-based Senior Vice President Alan Tapie originated the acquisition. The loan was funded through one of Grandbridge’s Insurance company correspondent relationships.
“The loan was provided for a repeat Grandbridge client who was entering into their second office acquisition in Buckhead. The acquisition represented an opportunity for the borrower to capitalize on the dynamic Buckhead location by utilizing new leasing and capital strategies for the asset. The financing featured a five-year all in term with prepayment flexibility, and future funding capabilities for tenant buildout and capital expenses,” Tapie said.
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 $30 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.
BB&T is one of the largest financial services holding companies in the U.S. with $220.3 billion in assets and market capitalization of $37.0 billion as of Sept. 30, 2017. 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 over 2,100 financial centers in 15 states and Washington, D.C. A Fortune 500 company, BB&T 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.