Grandbridge to Acquire Commercial Mortgage Banker

Grandbridge Real Estate Capital LLC, Charlotte, N.C., the commercial mortgage banking subsidiary of Branch Banking and Trust Co., Winston-Salem, N.C., will buy Houston-based commercial mortgage banking firm Live Oak Capital Ltd. Live Oak Capital specializes in debt and equity placement and loan servicing for the commercial real estate industry. Founded in 2000, the privately owned company has closed more than $7 billion in commercial real estate capital transactions. The acquisition is expected to be completed by the end of the month. Terms were not disclosed. "Partnering with the blue-chip professionals at Live Oak will strengthen our commercial mortgage franchise in Texas with a highly experienced business and management team," said Grandbridge chief executive Tom Dennard. "This is a firm whose principals have more than 125 years of combined industry experience and one that has achieved national recognition for its customer service, integrity and intellectual capital." Grandbridge has a servicing portfolio of $22.5 billion representing 100 capital providers. It was founded in October 2007 when BB&T combined Laureate Capital LLC of Charlotte with Collateral Real Estate Capital LLC of Birmingham, Ala. Grandbridge already operates a loan production office in Dallas.