Grandbridge Real Estate Capital Senior Vice President Matt Rocco of Grandbridge’s Atlanta office originated a $9,400,000 first mortgage loan secured by Lincolnshire West Apartments, a 254-unit multifamily property in DeKalb, Illinois.  Funding for the fixed rate refinance loan was provided by Fannie Mae under its DUS loan program with an attractive interest rate, a 10-year term, amortized over 30 years.  “Exceptional cooperation with our Fannie Mae DUS team enabled us to successfully close this transaction in 45 days,” explained Rocco. “One of the challenges we faced included the borrower’s cash out needs on a ‘60s vintage, substantially rehabilitated market rate property with more than 90 percent student residents.”

About Grandbridge Charlotte, N.C.-based Grandbridge, a subsidiary of BB&T Corporation, 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. 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.

The company is a Fannie Mae DUS lender, a Freddie Mac Program Plus® Seller/Servicer and Targeted Affordable Housing lender and a MAP multifamily and LEAN healthcare approved participant in products insured by the Federal Housing Administration (FHA).  Grandbridge has a servicing portfolio of about $24.5 billion representing nearly 100 capital providers. 

About BB&T As of Sept. 30, BB&T is one of the largest financial services holding companies in the U.S. with $157.2 billion in assets and market capitalization of $16.7 billion. Based in Winston-Salem, N.C., the company operates approximately 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.