BB&T, Collateral Eyeing $10B of Annual Loans

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BIRMINGHAM, AL-If all goes according to plan, publicly traded BB&T Corp. will acquire the privately owned Collateral Real Estate Capital LLC, boosting the Winston-Salem, NC-based financial holding company’s commercial mortgage banking power. The combined company could generate as much as $8 billion to $10 billion annually in mortgage production.

Pending regulatory approval, the deal will close Nov. 1. BB&T will team Collateral and its existing commercial mortgage banking firm, Laureate Capital LLC in Charlotte, NC, which will operate under an as yet, unknown new name.