CHARLOTTE, NC, /PRNewswire/ -- Grandbridge Real Estate Capital recently closed a $40.5 million transaction for The Province at University of Louisville (top left photo), a "Best in Class" student housing community in Louisville, Ky.
"The Edwards Companies have developed more than 7,000 student housing beds on and around major universities located in the Northeastern, Midwestern and Southeastern parts of the United States," said Ted Schmidt, (top right photo) Grandbridge senior vice president.
Grandbridge's Columbus, Ohio, office originated and closed the fixed-rate refinance loan.
Funding for the loan was provided by Freddie Mac under its Capital Markets Execution (CME) loan program. Financing was secured for a new venture sponsored by The Edwards Companies and Kayne Anderson Real Estate Advisors, L.P.
The 22-acre property consists of nine, three-story apartment buildings. It offers fully furnished efficiency, one-, two-, three- and four-bedroom units with individual bathrooms, exterior entries, and full kitchens with all appliances (including washer and dryer).
Other amenities include a resort-style pool and clubhouse, fitness center, media and gaming theaters, Wi-Fi accessible study/social areas, volleyball and basketball courts and game room.
Charlotte, N.C.-based Grandbridge, a subsidiary of BB&T Corporation, has a broad investor base that includes insurance companies, pension fund advisers, commercial banks and capital markets investors, as well as a proprietary lending platform.
Business contact: Thomas S. Dennard, Grandbridge CEO, +1-704-379-6910, tdennard@gbrecap.com
Transaction contact: : H.E. (Ted) Schmidt, Senior Vice President, +1-614-358-4102, tschmidt@gbrecap.com
Media Contact: Patricia Muse, Vice President, Marketing, +1-205-978-1139,
mailto:%20pmuse@gbrecap.com,
Web Site: http://www.bbt.com/
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