search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aTracking $12B in out-of-state and foreign home purchases in Palm Beach CountyTracking $12B in out-of-state and foreign home purchases in Palm Beach CountyCharles Cohen’s 750 Lex value slashed by 83%, foreclosure loomsCharles Cohen’s 750 Lex value slashed by 83%, foreclosure loomsElie Schwartz misses payment after allegedly defrauding investorsElie Schwartz misses payment after allegedly defrauding investors
South Florida

BB&T unit closes $5 million retail refinancing

The Oakley Square Shopping Center in Clermont (Source: CommercialSearch.com)
The Oakley Square Shopping Center in Clermont (Source: CommercialSearch.com)

A subsidiary of Branch Banking and Trust Company (BB&T) closed a $5 million mortgage refinance loan secured by an Orlando-area shopping center.

BB&T unit Grandbridge Real Estate Capital closed the mortgage loan on the Oakley Square Shopping Center.

Sign Up for the undefined Newsletter

Miami-based Grandbridge senior vice president Phillip Carroll arranged the loan on the 30,218-square-foot shopping center west of Orlando in the city of Clermont.

In a prepared statement, Carroll described the debt as “20-year, self-amortizing, fixed-rate non-recourse loan was funded through one of Grandbridge’s insurance company relationships. The transaction closed with a 4 percent interest rate.”

Charlotte, North Carolina-based Grandbridge arranges permanent commercial and multifamily real estate loans, services loan portfolios and provides asset and portfolio management. Its clients include insurance companies, pension fund advisers and commercial banks.

Tags
Bb&t