The Ft. Lauderdale office of Grandbridge Real Estate Capital recently originated and closed a $13.6 million first mortgage loan secured by Bella Vista Apartments, a 268-unit garden-style multifamily community in Port St. Lucie, Fla.  Freddie Mac purchased the refinance loan under its Capital Markets Execution (CME) loan program.  The borrower, a repeat customer, refinanced his existing Freddie Mac loan.

Senior Vice President Lance Lehman and Assistant Vice President Mitch Sinberg originated the transaction. 

Built in 2002, the 54.77-acre Class “A” community features 17 buildings with a mix of one- and two-bedroom units with cathedral ceilings.  Located approximately four miles east of the Florida Turnpike, the property is known for its numerous upscale amenities which include a clubhouse, business center, 24-hour fitness center, heated swimming pool, boat and RV parking, 24-hour laundry facility, and carports and private garages as well as screened patios and balconies overlooking lake and preserve views.

Charlotte, N.C.-based Grandbridge, a subsidiary of BB&T, has a broad investor base that includes insurance companies, pension fund advisors, 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 DUS^® lender. Grandbridge is also an FHA Multifamily Accelerated Processor (MAP) and LEAN healthcare approved lender.  The company arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. Grandbridge has a current servicing portfolio of $24 billion and represents approximately 100 capital providers.  More information on the company is available at www.gbrecap.com.

At September 30, BB&T Corporation had $157.2 billion in assets and is one of the nation’s largest financial holding companies. Founded in 1872, it operates more than 1,800 financial centers in 12 states and Washington, D.C. More information about the company is available at www.BBT.com.