MILWAUKEE — Grandbridge Real Estate Capital recently originated and closed a $2,900,000 limited-recourse first mortgage loan secured by a medical office building. This loan refinanced an existing full-recourse bank loan. Located in Glendale, Wis., the 25,044 square foot building was built in 2003 and offers great access, visibility and a strong rent roll.

Milwaukee-based Grandbridge Vice President Rob Meister arranged the financing through American Equity Investment Insurance Company. The 10-year fixed rate loan closed with an interest rate in the mid five percent range. Grandbridge Senior Analyst Dean Huber assisted with the transaction.

“The borrower’s attorney, Donald J. Gral, of Law Offices of Donald J. Gral, LLC, Milwaukee, Wisconsin, advised that ‘My client’s membership is comprised of sophisticated investors who were very pleased with the financing and its oversight by Grandbridge. We were able to efficiently structure financing which was well suited to their immediate needs.’ “

Charlotte, N.C.-based Grandbridge has a broad investor base that includes insurance companies, pension fund advisors, CMBS lenders, commercial banks and capital markets investors, as well as a proprietary lending platform.

The company, a wholly owned subsidiary of BB&T, is a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender and a Freddie Mac Program Plus® Seller/Servicer and Targeted Affordable Housing lender. Grandbridge is also a Multifamily Accelerated Processor (MAP) and LEAN healthcare approved active participant in 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, as well as real estate brokerage services. Grandbridge has a servicing portfolio of more than $25.3 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.