NASHVILLE, TN — The Nashville office of Grandbridge Real Estate Capital LLC is pleased to announce the recent loan closing of the Summit (top right photo), a 240-unit, class “A” garden-style apartment community in Lexington, Kentucky.The $17,662,000 refinance, funded by Grandbridge, was sold to Freddie Mac under its Early Rate Lock loan program.
Constructed in 2007, the property is located on approximately 15 acres near the prestigious Brighton Place Shoppes,(middle left photo) and is considered one of Lexington’s premier apartment communities.
The development is comprised of one-, two- and three-bedroom units, each of which features nine-foot ceilings, fireplaces, deep Roman tubs, gourmet kitchens, private balconies and patios and access to a state of the art communication hub.
Other property amenities include an outdoor swimming pool, conference room, computer/business center, 24-hour fitness center and a clubhouse with gathering areas, kitchen and a large stone fireplace.
"This was our first venture into the Lexington apartment market, and another fine example of how BB&T works to service the client's needs," stated Grandbridge Vice President Carl Bedwell, CCIM, (top left photo) who originated the transaction."We are certainly pleased that Grandbridge Real Estate Capital had the opportunity to establish itself through such a high quality borrower and development as we found in the Summit.
"Also, considering today's volatile market environment, Freddie Ma
c did a phenomenal job delivering as promised, and the borrower has secured an attractive loan as a result.
c did a phenomenal job delivering as promised, and the borrower has secured an attractive loan as a result. "We enjoyed working with all parties involved, and look forward to closing many more Lexington transactions in the years to come,”
Charlotte, N.C.-based Grandbridge, one of the largest full-service commercial and multifamily mortgage banking companies in the nation, is a Fannie Mae DUS® (Delegated Underwriting and Servicing) lender, a Freddie Mac Program Plus® seller/servicer, and a MAP-approved active participant in multifamily products insu
red by the Federal Housing Administration.
red by the Federal Housing Administration. The company arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management and real estate brokerage 
services.
services.Grandbridge has a servicing portfolio of more than $22.5 billion representing 96 capital providers.
With $137 billion in assets, BB&T Corporation is the nation’s 14th largest financial holding company. It operates more than 1,500 financial centers in 11 states and Washington, D.C. More information about the company is available at BBT.com. 5205 Maryland Way, Suite 201 ● Brentwood, Tennessee 37027 ● 615-377-8989 ● www.gbrecap.com
CONTACT:
Patricia Muse, Vice President Director of Marketing, Grandbridge Real Estate Capital LLC, 3000 Riverchase Galleria Suite 1020, Birmingham, Alabama 35244. 205.978.1139 phone. 205.218.3411 mobile. 866.311.1592 e-fax
CONTACT:Patricia Muse, Vice President Director of Marketing, Grandbridge Real Estate Capital LLC, 3000 Riverchase Galleria Suite 1020, Birmingham, Alabama 35244. 205.978.1139 phone. 205.218.3411 mobile. 866.311.1592 e-fax
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