ATLANTA—Grandbridge Real Estate Capital LLC recently hired Vice President Cynthia Hannon to join the company’s Affordable Housing team. Ms. Hannon has more than 20 years of real estate lending experience including commercial and multifamily assets involving construction, bridge, and permanent loan financing.

“I was with Fannie Mae for six years prior to joining Grandbridge. I served as a national account manager in the Multifamily Affordable Housing Group where I managed several affordable housing Delegated Underwriting and Servicing (DUS¨) lender relationships in which secondary market property financing for 4% and 501(c)3 tax-exempt bonds, 9% LIHTC, and Section 8/HAP contracts was provided. During my tenure with Fannie Mae I structured and reviewed more than $3 billion in tax-exempt and taxable loans,” explained Ms. Hannon.

“Cindy’s role with Fannie Mae included managing DUS relationships, structuring and approving affordable housing transactions and new product implementation. Located in the company’s Atlanta office, she’ll be working with all of our offices on affordable transactions as well as assisting in our new product development,” stated Grandbridge Senior Vice President, Affordable Housing, Phil Melton. “She is an asset to the growth of our Affordable Housing team and joins us at an opportune time—as this property type is extremely active in the market right now.”

Prior to Fannie Mae, Ms. Hannon was a CMBS account manager with Wachovia Securities in Charlotte, N.C., where she was instrumental in developing a construction/perm loan product for commercial and multifamily transactions warehoused and sold as commercial mortgage-back securities. Ms. Hannon also has over 10 years of experience in commercial construction lending. In that capacity, she served as a commercial underwriter for SunTrust Banks in Orlando, Fla., and First Union Bank in Atlanta, Ga., which has since merged with Wachovia.

Ms. Hannon began her career as a licensed real estate appraiser in Orlando, Fla., shortly after graduating from the University of Florida with a bachelor's degree in business administration with a double major in finance and real estate.

Charlotte, N.C.-based Grandbridge, one of the largest full-service commercial and multifamily mortgage banking companies in the nation, is a Fannie Mae DUS® (Delegated Underwriting and Servicing) lender, a Freddie Mac Program Plus® seller/servicer, and a MAP-approved participant in multifamily 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 and real estate brokerage services. Grandbridge has a servicing portfolio of more than $22 billion representing 96 capital providers. It closed more than 1,000 transactions in 2007.

With $136.5 billion in assets, BB&T Corporation (NYSE: BBT) 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

Phil Melton
Grandbridge Sr. Vice President
972.385.6005

MEDIA

Patricia Muse
Grandbridge Marketing
205.978.1139