Grandbridge Real Estate Capital recently originated and closed $144,432,200 of manufactured home community financing for American Manufactured Communities REIT (AMC). The permanent financing is secured by 11 manufactured home communities located in Texas, Colorado and Arizona. All properties are located in vibrant socio-economic areas within major cities such as Dallas, Denver, Austin and Tucson. This financing was part of a larger, 16-property purchase by AMC from Hometown America Communities.  

Senior Vice President Stuart Wernick and Vice President Eli Gershenson of Grandbridge’s Dallas office originated the transaction. The financing was structured through two separate capital sources; Fannie Mae’s DUS® MBS loan product and UBS Real Estate Securities’ (UBS) securitized fixed rate loan program. The pool of assets requiring new debt is comprised of 4,185 sites in a variety of community settings ranging in age and size, with varying demographics that include family- and seniors-orientated properties.

"A crucial component of this financing was our ability to coordinate the purchase of a diverse portfolio with the right capital sources. The client required a financing team that understood the unique nature of the deal and was capable of engineering the best possible financing for each property," stated Wernick.  "As a capital market leader in the manufactured home community industry, Grandbridge provided AMC with access to Fannie Mae capital through our direct DUS lending platform as well as funding through our UBS relationship, which enabled us to execute in the securitization markets."

 

About Grandbridge Real Estate Capital LLC

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, Seniors Housing 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 servicing portfolio of more than $25.7 billion and represents approximately 100 capital providers.