Ft. Lauderdale, Fla. — The Ft. Lauderdale office of Grandbridge Real Estate Capital recently originated and closed a $19.85 million first mortgage loan secured by The Colonnade at Sawgrass, a 212-unit garden-style multifamily community in Sunrise, Florida.  BB&T Real Estate Funding provided the bridge debt.Ft. Lauderdale-based Senior Vice President Lance Lehman originated the transaction. 

Built in 1996, the 54.77-acre Class “B+” community features a clubhouse and eight residential buildings with a mix of one, two-, and three-bedroom units located in Broward County adjacent to the Sawgrass Mills Mall, the nation’s sixth largest mall. The property is known for its numerous upscale amenities which include a clubhouse, business center, fitness center, swimming pool, playground and tennis courts. Attached and detached garages as well as screened balconies and monitored, gated access and alarm systems complete the residents’ amenities package.

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 December 31, 2010, BB&T Corporation had $157.1 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.