Grandbridge Real Estate Capital completes purchase of California commercial real estate firm
CHARLOTTE, N.C., Dec. 3, 2012 /PRNewswire/ – Grandbridge Real Estate Capital LLC, a wholly-owned subsidiary of BB&T Corporation (NYSE: BBT), announced today it has completed the purchase of Dwyer-Curlett & Co., a leading commercial real estate finance firm with three offices in southern California.
"This merger creates a very compelling value proposition for our associates, clients and investors," said Grandbridge CEO Thomas S. Dennard. "It is a great opportunity to expand into the attractive California market and connect clients with our broad base of real estate capital solutions nationwide.
"Senior Vice Presidents Shelley Magoffin and Thomas Kenny will serve as regional managers for the Los Angeles, Orange County and San Diego offices. The combined offices have 20 loan originators, in addition to financial analysts and asset management personnel. Grandbridge's large resource base, expanded delivery system and greater access to capital will help drive growth in the region.
About Grandbridge Real Estate Capital LLC
Charlotte, N.C.-based Grandbridge has a broad investor base that includes insurance companies, CMBS investors, pension fund advisors, commercial banks and capital markets investors, as well as its proprietary lending platform, BB&T Real Estate Funding. The company is a Fannie Mae DUS® lender, a Freddie Mac Program Plus® Seller/Servicer, and an approved FHA MAP and LEAN healthcare lender.
Grandbridge arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. Grandbridge has a current servicing portfolio of more than $30 billion and represents approximately 100 capital providers. More information about the company is available at www.gbrecap.com.
SOURCE Grandbridge Real Estate Capital LLC