JACKSONVILLE, Fla. — Grandbridge Real Estate Capital recently closed a $4,150,000 first mortgage loan secured by Azalea Plaza, a 28,081 square foot retail center located in Ponte Vedra Beach, Florida. This refinance transaction was originated in the company’s Jacksonville office. 

Funding for the permanent loan featured a 10-year term, 30-year amortization and an interest rate in the mid-five percent range. The CMBS loan structure was selected for numerous reasons including its low fixed interest rate. A strong borrower coupled with a good property location made the transaction attractive to the lender. Grandbridge successfully met the client’s timing and cash out objectives.

About Grandbridge Real Estate Capital

Charlotte, N.C.-based Grandbridge, a subsidiary of Branch Banking and Trust Company (BB&T), has a 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 Fannie Mae DUS® (Delegated Underwriting and Servicing) lender, a Freddie Mac Program Plus® Seller/Servicer and Targeted Affordable Housing lender, and an approved FHA Multifamily Accelerated Processor (MAP) and LEAN healthcare lender.

 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. The company has a current servicing portfolio of more than $24.98 billion and represents approximately 100 capital providers. More information about the company is available at www.gbrecap.com. 

About BB&T

BB&T Corporation (NYSE: BBT) is one of the largest financial services holding companies in the U.S. with $159 billion in assets and market capitalization of $18.7 billion, as of June 30, 2011. 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. More information about BB&T and its full line of products and services is available at www.BBT.com.