MILWAUKEE — Grandbridge Real Estate Capital recently originated and closed a $50,000,000 first mortgage bridge loan secured by a four-asset office and industrial portfolio located in four 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 and Senior Analyst Justin Nelson arranged the financing through Kirk Booher with BB&T Real Estate Funding in Chicago, Illinois.

“We were very creative in structuring this transaction to provide flexibility and liquidity within the loan facility for KBS to manage their assets through some near-term rollover,” Cope commented. 

The variable rate loan has a three-year term with extension options.  The four assets are located in Austin, Texas; San Jose, Ca.; Portland, Ore.; and Atlanta, Ga.   

“Timing, structure, and multiple assets all made this deal a significant challenge.  KBS, Grandbridge and BB&T all worked extremely hard to negotiate and underwrite a complex deal in a short timeframe,” 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, CMBS lenders, 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 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 $24.3 billion representing nearly 100 capital providers. More information about Grandbridge and its full line of products and services is available at www.gbrecap.com.

As of December 31, 2010, BB&T is one of the largest financial services holding companies in the U.S. with $157.1 billion in assets and market capitalization of $18.3 billion. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C.  More information about BB&T and its full line of products and services is available at www.BBT.com.

About KBS Realty Advisors

Founded by Peter Bren and Charles J. Schreiber, Jr. in 1992 as a private equity real estate company, KBS Realty Advisors is an SEC-registered investment advisor. KBS Realty Advisors and its affiliate, KBS Capital Advisors, are one of the nation's largest buyers of commercial real estate and structured debt investments, having consummated approximately $20 billion in transactional volume.