HOLLYWOOD, FL—Grandbridge Real Estate Capital recently closed a $13-million first mortgage loan secured by Stirling Square, a 95,000-square -foot retail center here.
“The borrower was able to lock in the 10-year fixed interest rate six months in advance of closing, when rates were lower,” said Miami-based SVP Philip Carroll who originated the transaction for Grandbridge.
Funding for the permanent, fixed rate refinance was arranged through one of Grandbridge's banking relationships. The loan featured a 10-year term, 25-year amortization and closed with an interest rate in the mid three percent range.
The property offers 95,000 square feet of retail and office space, of which 54,773 square feet is on the ground level and includes credit tenants Walgreens and Bank of America.
Headquartered in Charlotte, NC, 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.
With a current servicing portfolio of more than $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.
HOLLYWOOD, FL—Grandbridge Real Estate Capital recently closed a $13-million first mortgage loan secured by Stirling Square, a 95,000-square -foot retail center here.
“The borrower was able to lock in the 10-year fixed interest rate six months in advance of closing, when rates were lower,” said Miami-based SVP Philip Carroll who originated the transaction for Grandbridge.
Funding for the permanent, fixed rate refinance was arranged through one of Grandbridge's banking relationships. The loan featured a 10-year term, 25-year amortization and closed with an interest rate in the mid three percent range.
The property offers 95,000 square feet of retail and office space, of which 54,773 square feet is on the ground level and includes credit tenants Walgreens and
Headquartered in Charlotte, NC, Grandbridge Real Estate Capital, a subsidiary of
With a current servicing portfolio of more than $29 billion, Grandbridge, an S&P strong rated servicer, services loan portfolios and provides asset and portfolio management nationwide for all capital providers including
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