Grandbridge Real Estate Capital’s Greenville, S.C., office recently originated and closed a $26,038,000 loan for the acquisition of Standifer Place, a 240-unit multifamily property in Chattanooga, Tennessee.
The permanent, floating rate, non-recourse loan was funded through Freddie Mac’s Standard Delivery program. The transaction was structured with a 10-year balloon, 36-month interest-only period, followed by a 30-year amortization.
The loan was originated on behalf of a repeat client by Senior Vice Presidents
Bill Mattice and Phillip Cox, along with Assistant Vice President Paul McDonald.
About Grandbridge Real Estate Capital LLC
Headquartered in Charlotte, N.C., Grandbridge Real Estate Capital, a subsidiary of BB&T (now Truist), 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. The company is a Freddie Mac Optigo
® lender, a Fannie Mae DUS® lender, and an approved FHA MAP and LEAN health care lender.
With a current servicing portfolio of more than $30 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 Truist
Truist Financial Corporation (NYSE: TFC) is a purpose-driven company dedicated to building a better future for its clients, teammates and communities. With 275 years of combined BB&T and SunTrust history, Truist is one of the nation’s largest financial services holding companies offering a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending and wealth management. Headquartered in Charlotte, North Carolina, Truist serves approximately 10 million households with leading market share in many high-growth markets in the country. Learn more at Truist.com.
