Charlotte, N.C.-based Grandbridge Real Estate Capital recently originated and closed a $45 million first mortgage bridge loan secured by a 17-building office portfolio located throughout five states.
The portfolio is owned by a fund managed by Newport Beach, Calif.-based KBS Realty Advisors, Inc.
Milwaukee-based Grandbridge senior vice president Jim Cope arranged the financing through Kirk Booher with BB&T Real Estate Funding in Chicago.
“This transaction had a number of moving parts and was a success because we had a sophisticated borrower with a quality team of people who all worked hard to get the deal to the finish line,” Cope said.
“Due to the size of the loan and some of the structural attributes, it required significant coordination with many groups within both Grandbridge and BB&T,” said BB&T Real Estate Funding senior vice president Kirk Booher. “I was extremely pleased with how the groups worked together to accommodate the borrower’s needs.”
Grandbridge has a broad investor base that includes insurance companies, pension fund advisors, commercial banks and capital markets investors, as well as a proprietary lending platform. The company arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. Grandbridge has a servicing portfolio of approximately $24.75 billion representing nearly 100 capital providers.