Winston-Salem, N.C.-headquartered Branch Banking and Trust Co. (BB&T), a principal subsidiary of BB&T Corp., has completed its acquisition of Birmingham, Ala.-headquartered commercial real estate finance company Collateral Real Estate Capital LLC.
BB&T has combined Collateral with Laureate Capital LLC, its existing Charlotte, N.C.-based commercial mortgage banking firm. According to BB&T, the combined company – renamed as Grandbridge Real Estate Capital LLC – has a commercial real estate servicing portfolio of more than $20 billion.
The combined company will offer a full range of commercial real estate financing programs, including life insurance companies, pension funds, commercial mortgage-backed securities and proprietary products.
