CHARLOTTE, N.C., March 3 /PRNewswire-FirstCall/ -- Grandbridge Real
Estate Capital LLC, a subsidiary of BB&T Corporation principal subsidiary
Branch Banking and Trust Company, today announced the closings of 225
transactions totaling $1.6 billion from November through January -- the
first 90 days of business for Grandbridge.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080303/CLM064LOGO)
"The volume of transactions closed during our first 90 days --
especially considering the disruption in the capital markets arena -- was
excellent," said Grandbridge Chief Executive Officer Thomas S. Dennard.
"The commercial mortgage-backed securities markets are on the sidelines,
yet our multi- discipline approach will help us through the challenges we
expect to face this year."
"While we will continue to face challenges this year, I believe our
broad and diverse product line and investor base will serve us extremely
well," said Grandbridge President and Chief Operating Officer Dave Roberts.
Charlotte, N.C.-based Grandbridge, one of the largest full-service
commercial and multifamily mortgage banking companies in the nation, has a
broad investor base that includes insurance companies, CMBS lenders,
pension fund advisors, and commercial banks as well as a proprietary
lending platform.
Grandbridge is a Fannie Mae DUS (R) (Delegated Underwriting and
Servicing) lender, a Freddie Mac Program Plus (R) seller/servicer and an
active participant in multifamily products insured by the Federal Housing
Administration (FHA).
The company arranges permanent commercial and multifamily real estate
loans, services loan portfolios, and provides asset and portfolio
management and real estate brokerage services.
It operates production offices in 28 cities across the country. The
Grandbridge servicing portfolio was more than $20.8 billion on Jan. 31.
More information about Grandbridge is available at http://www.gbrecap.com.
With $132.6 billion in assets, BB&T Corporation (NYSE: BBT) is the
nation's 14th largest financial holding company. It operates nearly 1,500
financial centers in 11 states and Washington, D.C. More information about
the company is available at BBT.com.
SOURCE BB&T Corporation
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Related links:
http://www.bbt.com
http://www.gbrecap.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20080303/CLM064LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/809325.html /
CONTACT:
Business, Thomas S. Dennard, Grandbridge CEO,
+1-704-379-6910, David A. Roberts, Grandbridge President and COO,
+1-205-978-1841; Media, Jeff Nichols of BB&T Corp.
Communications, +1-336-733-1472
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