The Milwaukee office of Grandbridge Real Estate Capital recently originated and closed a $22 million first mortgage loan secured by Hidden Oak Estates, a 324-unit multifamily community Pleasant Prairie, Wis.   Freddie Mac purchased the fixed rate refinance loan under its Capital Markets Execution (CME) loan program and Early Rate-Lock (ERL) delivery with an interest rate in the low four percent range and a 10-year term, amortized over 30 years. 

Hidden Oak Estates, located in Kenosha County, Wis., is a 33-acre community that features nine, three-story buildings with a mix of one-, two-, and three-bedroom units.  Each building has heated underground parking.  Amenities to the property include a heated pool, clubhouse, volleyball and basketball courts, and a fitness center with tanning bed.   Senior Vice President Jim Cope Senior Vice President Jim Cope and Vice President Debe Storts originated and closed the transaction

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 a Multifamily Accelerated Processor (MAP) and LEAN healthcare approved active participant in products insured by the Federal Housing Administration (FHA). 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.

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 BBT.com.