Grandbridge Real Estate Capital recently closed a $22,989,000 first mortgage loan secured by Stonegate Apartments, a 294,652-square foot; 260-unit multifamily community in Birmingham, Ala. Atlanta-based Senior Vice President Alan Tapie originated the acquisition. The 10-year, floating rate loan with an initial interest-only term followed by a 30-year amortization schedule, was arranged through Freddie Mac’s ARM Standard Delivery and qualified for Freddie Mac’s Green Advantage/Green Up program. Green Up recognizes 50 percent of projected owner-paid energy and/or water/sewer savings based on the Green Assessment, provided the appraiser includes an “As-Improved” value inclusive of the selected green improvements.

Stonegate Apartments is a garden style community comprised of 18, two- and three-story residential buildings, a clubhouse/leasing center, and five garage buildings. Amenities include a swimming pool, clubhouse/lounge area, fitness center, business center, laundry facility, tennis court, picnic-grilling area, dog park, walking trails, car wash center, valet trash service, and gated access.

Tapie closed a $33,225,000 first mortgage loan secured by BayVue Apartments, a 368-unit garden-style apartment property in Tampa, Fla. The refinance loan was funded through Freddie Mac.

“The loan was arranged for a repeat Grandbridge client with strong multifamily experience. The financing featured an initial period of interest-only, and a 10-year, floating rate term with 30-year amortization,” Tapie said.

BayVue is located within the Tampa MSA, just north of Tampa Bay and just west of the Tampa International Airport. Built in 1988, the property contains 29, two-story residential buildings on 23.35 acres. Community amenities include a clubhouse, two swimming pools, fitness center, business center, racquetball court and a car wash center.

A $35,200,000 first mortgage loan secured by Park at Johns Creek, a 245-unit multifamily community in Suwanee, Ga., recently closed. Tapie structured the 15-year term, 30-year amortization refinance loan with an initial period of interest-only for a repeat client. Funding was arranged through one of Grandbridge’s insurance company correspondents.

Tapie recently closed at $11,445,000 acquisition loan for a repeat client secured by Aspen Woods Apartments, a 218-unit multifamily property in Decatur, Ga. (Atlanta MSA). Funded through Freddie Mac, the permanent, floating rate loan was structured with an initial period of interest-only, a three-year term, and 30-year amortization.

A $12,148,000 acquisition loan secured by The Landings at River Market, a 141-unit multifamily property in Kanas City, Mo., was originated by Tapie for a repeat client.Funded through Freddie Mac, the permanent, floating rate loan was structured with an initial period of interest-only, a seven-year term, and 30-year amortization.

Tapie also recently facilitated the closing of a $26,140,500 new construction loan secured by The Residences at Harbor Town Apartments, a 175-unit multifamily community in Little Rock, Ark. The permanent, fixed rate loan was funded through FHA’s 221(d)4 loan program. The loan was structured with a 40-year term and 40-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 $225.7 billion in assets and market capitalization of approximately $33.1 billion as of December 31, 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 1,800 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.