Grandbridge Real Estate Capital Arranges Two Loans Totaling $43.6M for Apartment Communities in Metro Atlanta
LITHIA SPRINGS AND MARIETTA, GA. — Grandbridge Real Estate Capital, a subsidiary of BB&T, has closed two loans totaling $43.6 million for two apartment communities in the Atlanta suburbs of Lithia Springs and Marietta. Alan Tapie of Grandbridge arranged both loans through Freddie Mac’s CME (capital markets execution) program. Both loans feature initial periods of interest-only payments, 10-year loan terms and 30-year amortization schedules. The loans include a $20.8 million first mortgage for the 312-unit Brodick Hill Apartments in Lithia Springs and a $22.8 million acquisition loan for the 344-unit Ivy Commons Apartments in Marietta.