DALLAS — Grandbridge Real Estate Capital recently closed a $3,067,500 first mortgage loan secured by the Citadel at Preston Apartments, an 80-unit garden-style multifamily community located on 3.73 acres in Dallas, Texas.

The seven-year refinance loan features a 30-year amortization and closed with an interest rate in the mid-four percent range. Funded through Fannie Mae’s DUS© loan product, the transaction was originated by Dallas-based Senior Vice President Stuart Wernick.

Constructed in 1969 and totally renovated by the borrower in 2002, the 20-building property is a mix of well-designed two- and three-bedroom units. The property’s desirable location south of Interstate 635 (known locally as the Lyndon B. Johnson Freeway, or LBJ), between the “Golden Corridor” and north of downtown Dallas, adds to its value. Conveniently located near the LBJ and the Dallas North Tollway, residents can easily enjoy nearby upscale shopping and mixed-use developments that include Valley View Mall and Galleria Mall. Property amenities include a swimming pool, sundeck, laundry facilities, covered parking and leasing office with clubhouse.

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.