CHARLOTTE, N.C. — Grandbridge Real Estate Capital LLC, a subsidiary of BB&T Corporation (NYSE: BBT) principal subsidiary Branch Banking and Trust Company, today announced the closings of 225 transactions totaling $1.6 billion from November through January — the first 90 days of business for Grandbridge.

“We are very pleased with the volume of transactions closed during our first 90 days – especially considering the disruption in the capital markets arena,” said Grandbridge Chief Executive Officer Thomas S. Dennard. “The CMBS markets are on the sidelines. However, we are determined to have a multi-discipline approach and that is what will help us through the challenges that we will face in 2008.”

Grandbridge President and Chief Operating Officer Dave Roberts added, "While we will face challenges in 2008, I believe Grandbridge's broad and diverse product line and investor base will serve us extremely well this year."

Charlotte, N.C.-based Grandbridge, one of the largest full-service commercial and multifamily mortgage banking companies in the nation, has a broad investor base that includes insurance companies, CMBS lenders, pension fund advisors, and commercial banks as well as a proprietary lending platform. Grandbridge is a Fannie Mae DUS^® (Delegated Underwriting and Servicing) lender, a Freddie Mac Program Plus^® seller/servicer and an active participant in multifamily products insured by the Federal Housing Administration (FHA).

The company arranges permanent commercial and multifamily real estate loans, services loan portfolios, and provides asset and portfolio management and real estate brokerage services.

It operates production offices in 28 cities across the country. Grandbridge’s servicing portfolio was more than $20.8 billion on Jan. 31. More information about Grandbridge is available at www.gbrecap.com.

With $132.6 billion in assets, BB&T Corporation is the nation's 14th largest financial holding company. It operates nearly 1,500 financial centers in 11 states and Washington, D.C. More information about the company is available at BBT.com.

Contacts

BUSINESS

Thomas S. Dennard
Grandbridge CEO
704.379.6910

David A. Roberts
Grandbridge President and COO
205.978.1841

MEDIA

Patricia Muse
Grandbridge Marketing
205.978.1139

Jeff Nichols
BB&T Corp. Communications
336.733.1472