Grandbridge Finances $3.9 Million Minnesota Retail Property

1/16/19

Grandbridge Real Estate Capital recently closed a $3,900,000 first mortgage secured by a 7,600 square foot retail property in Minnetonka, Minn. The refinance loan was originated by Minneapolis-based Tony Carlson and Joe Lindberg.

The loan was funded through one of Grandbridge’s life insurance company correspondents and featured a 10-year term with a 30-year amortization. The loan closed with a fixed interest rate in the mid four percent range.

Grandbridge successfully worked with the borrower and lender to structure a transaction that met the borrower’s objectives. The rate was locked at application and allowed the property owner to eliminate interest rate risk for the next 10 years and increase cash flows with a 30-year amortization.

About Grandbridge Real Estate Capital LLC Headquartered in Charlotte, N.C., Grandbridge Real Estate Capital, a subsidiary of Branch Banking and Trust Company (BB&T), arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management through its broad investor base that includes insurance companies, CMBS investors, pension fund advisors, commercial banks and capital markets investors, as well as its proprietary lending platform, BB&T Real Estate Funding. The company is a Freddie Mac Multifamily Approved Seller/Servicer for Conventional and Seniors Housing, a Fannie Mae DUS® lender and an approved FHA MAP and LEAN healthcare lender.

With a current servicing portfolio of $29.5 billion, Grandbridge, an S&P strong rated servicer, services loan portfolios and provides asset and portfolio management nationwide for all capital providers including Freddie Mac, Fannie Mae, Ginnie Mae, insurance companies, banks and more than 250 securitizations. More information about Grandbridge and its full line of products and services is available at Grandbridge.com.

About BB&T BB&T is one of the largest financial services holding companies in the U.S. with $222.9 billion in assets and market capitalization of approximately $37.4 billion as of September 30, 2018. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates more than 1,900 financial centers in 15 states and Washington, D.C. More information about BB&T and its full line of products and services is available at BBT.com.

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