Charlotte, N.C.-based Grandbridge Real Estate Capital LLC, a wholly owned commercial mortgage banking subsidiary of BB&T Corp., has announced two business acquisitions.
Grandbridge has purchased Dallas-based Quantum First Capital (QFC) and Louisville-based BFG Realty Advisors. QFC is a real estate finance and advisory firm whose founder and president, Stuart Wernick, joins Grandbridge as the company's senior vice president. This announcement follows the Grandbridge acquisition of Houston-based Live Oak Capital late last year.
Grandbridge re-enters the Louisville market with its BFG purchase, which included BFG's loan service portfolio of approximately $400 million. The acquisition will allow Grandbridge to serve BB&T's Louisville-area clients as well as general commercial and multifamily owners in greater Lexington and Owensboro, Ky.
In addition to the acquisitions, Grandbridge has expanded its Freddie Mac Program Plus Seller/Servicer coverage in Minneapolis, Minn.; Columbus, Ohio; Kansas City, Mo.; Charleston, S.C.; and Jacksonville, Tampa and Orlando, Fla. Twenty out of 28 Grandbridge offices now provide Freddie Mac loan products.
SOURCE: BB&T Corp.