BIRMINGHAM, ALA. — Grandbridge Real Estate Capital recently originated and closed a $2,400,000 first mortgage loan secured by the Pinnacle Building.  Located in Huntsville, Ala., the 19,244 square foot mixed-use office/retail property is the sixth completed town center building within The Village of Providence development.
Birmingham-based Grandbridge Assistant Vice President Steve C. Clikas III, CCIM, arranged the financing through Ohio National Financial Services. The 10-year term, fixed rate loan closed with an interest rate in the mid five-percent range.

Mr. Clikas also originated and closed a $3,134,900 first mortgage loan secured by Cambrian Forest Apartments. Located in Greenville, Ala., the 72-unit community is situated on 10 acres in south central Alabama. Funded through Grandbridge’s FHA relationship, the 40-year term, fixed rate HUD 223(a)(7) loan closed with an interest rate in the low four-percent range. Amenities to the property include an exercise facility/gym, swimming pool and lounge area, car wash station and mini warehouse storage units.

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 $24.7 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.