GRANDBRIDGE FUNDS $19.85 MILLION MULTIFAMILY LOAN IN FLORIDA

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SUNRISE, FLA. — The Ft. Lauderdale, Fla., office of Grandbridge Real Estate Capital has originated and closed a $19.85 million first mortgage loan. The loan is secured by The Colonnade at Sawgrass, a 212-unit garden-style apartment community in Sunrise. Built in 1996, the community features a clubhouse, eight residential buildings with a mix of one-, two- and three-bedroom units, a business center, a fitness center, a swimming pool, a playground and tennis courts. BB&T Real Estate Funding provided the bridge debt. Lance Lehman of Grandbridge originated the transaction. Charlotte, N.C.-based Grandbridge is a subsidiary of BB&T.

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