ATLANTA, Nov. 20 /PRNewswire-FirstCall/ -- Grandbridge Real Estate Capital LLC today said it has arranged, closed and sold to Fannie Mae a credit facility worth up to $350 million for one of the largest real estate investment trusts in North America. Grandbridge is a subsidiary of BB&T Corporation principal subsidiary Branch Banking and Trust Company. (Logo: http://www.newscom.com/cgi-bin/prnh/20080303/CLM064LOGO ) The borrower, whose name was not disclosed, will use the credit facility to buy a 2,342-unit, multi-state seniors housing complex. "This transaction involved four master leases, various purchase options and tremendous teamwork by the borrower, Fannie Mae and Grandbridge," said Scott Kavel, head of the Norcross, Ga.-based Grandbridge Senior Housing Group. "Grandbridge is committed to supporting affordable housing and seniors housing projects for our clients," said Grandbridge Chief Executive Officer Thomas S. Dennard. 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(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. The company arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management and real estate brokerage services. Grandbridge has a servicing portfolio of more than $22 billion representing 96 capital providers. It closed more than 1,000 transactions in 2007. 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. http://www.newscom.com/cgi-bin/prnh/20080303/CLM064LOGO http://photoarchive.ap.org/ DATASOURCE: BB&T Corporation CONTACT: Business, Thomas S. Dennard, Chief Executive Officer of Grandbridge, +1-704-379-6910; Scott Kavel, Senior Vice President of Grandbridge Seniors Housing, +1-678-906-4071; MEDIA, Jeff Nichols, Vice President of BB&T Corp. Communications, +1-336-733-1472 Web site: http://www.bbt.com/ Company News On-Call: http://www.prnewswire.com/comp/809325.html

Copyright