MILWAUKEE — Grandbridge Real Estate Capital recently originated and closed a $45,000,000 first mortgage bridge loan secured by a 17-building office portfolio located throughout five states. The portfolio is owned by a fund managed by Newport Beach, California-based KBS Realty Advisors, Inc. Milwaukee-based Grandbridge Senior Vice President Jim Cope arranged the financing through Kirk Booher with BB&T Real Estate Funding in Chicago, Illinois.

“This transaction had a number of moving parts and was a success because we had a sophisticated borrower with a quality team of people who all worked hard to get the deal to the finish line,” explained Grandbridge Senior Vice President Jim Cope.

“Due to the size of the loan and some of the structural attributes, it required significant coordination with many groups within both Grandbridge and BB&T. I was extremely pleased with how the groups worked together to accommodate the borrower’s needs,” stated BB&T Real Estate Funding Senior Vice President Kirk Booher.

Charlotte, N.C.-based Grandbridge 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 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 health care approved active participant in products insured by the Federal Housing Administration.

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 approximately $24.75 billion representing nearly 100 capital providers.

At September 30, BB&T Corporation had $162 billion in assets and was the nation’s 10th largest financial holding company. Founded in 1872, it operates more than 1,800 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

MEDIA

Patricia Muse
Grandbridge Marketing
205.978.1139