Grandbridge Real Estate Capital recently closed a $2,800,000 first mortgage loan secured by The Center for Sports Medicine and Orthopaedics, a recently built 13,180 square foot medical office within the TN-GA MSA in Ringgold, Georgia.
Grandbridge Greenville-based Senior Vice Presidents Phillip Cox and Bill Mattice originated the transaction.
Funding for the permanent, fixed rate loan was provided through one of Grandbridge’s insurance company correspondents. The nonrecourse financing was structured with a 20-year term and 20-year amortization.
The one-story, single-tenant medical office property is conveniently located 10 miles southeast of the Chattanooga Central Business District. The facility is the first phase of a 20-acre hospital campus site being jointly developed by the Catoosa County Economic Development Authority and Armour Commercial Real Estate.
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 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 $222.7 billion in assets and market capitalization of approximately $39.1 billion as of June 30, 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., and is consistently recognized for outstanding client service by Greenwich Associatesfor small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.
