Grandbridge Real Estate Capital, a wholly-owned subsidiary of North Carolina-based bank BB&T Corp., wrapped up its acquisition of Dwyer-Curlett & Co. to expand its commercial real estate finance business into southern California.
Grandbridge Senior Vice Presidents Shelley Magoffin and Thomas Kenny will serve as regional managers for the Los Angeles, Orange County and San Diego offices, which have a combined total of 20 loan originators as well as financial analysts and asset management personnel.
In addition to offering permanent loans for commercial and multifamily property, the firm services loan portfolios and provides asset and portfolio management services. It has a current servicing portfolio of more than $30 billion and represents approximately 100 capital providers.
Grandbridge CEO Thomas S. Dennard said the firm's investor base includes insurance companies, CMBS investors, pension fund advisors, commercial banks and capital markets investors, as well as a proprietary lending platform. The company is a Fannie Mae DUS® lender, a Freddie Mac Program Plus® Seller/Servicer, and an approved FHA MAP and LEAN healthcare lender.