CHARLOTTE, N.C. — Grandbridge Real Estate Capital recently closed the $103,200,000 refinancing of the International Home Furnishings Center (IHFC).  Located in High Point, N.C., the property showcases nearly three-and-a-half million square feet of furniture showroom space.  IHFC has been the centerpiece of the semi-annual High Point Market, the largest furniture trade show in the world, since 1921.

Mike Ortlip, Senior Vice President and head of Grandbridge’s Charlotte office, arranged the transaction between IHFC and NATIXIS Real Estate Capital.  “This was a unique transaction in today’s market for several reasons:  First was the ability and willingness of NATIXIS to fund the entire loan themselves and provide a seamless transaction for our client.  Second was all parties’ familiarity with the asset and the client’s needs.  Grandbridge and NATIXIS had previously provided financing for IHFC, and – unique in today’s capital markets – the same members of both firms’ deal teams were still in place from the original financing.  This transaction further emphasizes Grandbridge’s belief that relationships are integral to success in our business,” explained Mr. Ortlip.

Grandbridge’s deal team was lead by Mr. Ortlip and included Josh Davis, Annie Martin, Chris Caison and John Gray.

About Grandbridge

Charlotte, N.C.-based Grandbridge, a subsidiary of BB&T Corporation, has a broad investor base that includes insurance companies, pension fund advisers, commercial banks and capital markets investors, as well as a proprietary lending platform. The company is a Freddie Mac Program Plus® Seller/Servicer and Targeted Affordable Housing lender and a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender. Grandbridge also is a MAP multifamily and LEAN health care approved participant in products insured by the Federal Housing Administration (FHA).

Grandbridge arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services nationwide. Grandbridge has a servicing portfolio of about $24.5 billion representing nearly 100 capital providers. For more information about Grandbridge and its locations, visit www.gbrecap.com.

About BB&T

BB&T Corporation (NYSE: BBT) is one of the 10th largest financial services holding companies in the U.S. with more than $155.1 billion in assets and market capitalization of $18.2 billion, as of June 30, 2010. Based in Winston-Salem, N.C., the company operates more than 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com.

BUSINESS CONTACT
Thomas S. Dennard
Grandbridge CEO    
(704) 379-6910
tdennard@gbrecap.com    

TRANSACTION CONTACT
Michael J. Ortlip
Senior Vice President
704.379.6950 
mortlip@gbrecap.com

MEDIA CONTACT
Patricia Muse
Vice President | Marketing
(205) 978-1139
pmuse@gbrecap.com