Grandbridge Real Estate Capital recently closed a $2,750,000 first mortgage loan secured by White Oak Crossing, a 10,185 square foot retail property in Ooltewah, Tenn.
Grandbridge Greenville-based Senior Vice Presidents Phillip Cox and Bill Mattice originated the refinance transaction. The permanent, fixed rate loan was funded through one of Grandbridge’s insurance company correspondents.
Built in 2017, the property was 100% occupied at closing. Tenants include Jersey Mikes, Smoothie King, Advance Financial, Dos Bros, Synovus and Aldi. The 3.3-acre property is advantageously positioned less than one-mile east of I-75, which provides access to Chattanooga to the west, Atlanta to the south, and Knoxville to the north.
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 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. and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. More information about BB&T and its full line of products and services is available at BBT.com.
