Grandbridge acquires Texas and Kentucky mortgage banking firms, broadens Freddie Mac program Plus(R) Seller/Servicer capabilitie

Originators Aanonsen and Bauer join Grandbridge


CHARLOTTE, N.C., Sept. 30  /PRNewswire-FirstCall/ -- Grandbridge Real Estate Capital LLC, a wholly owned subsidiary of BB&T Corporation and one of the nation's largest full-service commercial and multifamily mortgage banking firms, today announced the following:

  (Logo: http://www.newscom.com/cgi-bin/prnh/20080303/CLM064LOGO )


  --  Grandbridge has acquired Dallas, Texas-based real estate finance and
      advisory firm Quantum First Capital (QFC). QFC Founder and President
      Stuart Wernick has joined Grandbridge as a senior vice president. The
      announcement follows the Grandbridge acquisition of Houston,
      Texas-based Live Oak Capital in late 2008.


  --  Grandbridge has re-entered the Louisville, Ky., market with the
      acquisition of BFG Realty Advisors and its loan servicing portfolio of
      approximately $400 million. The acquisition will allow Grandbridge to
      better 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.  Grandbridge is also an approved
      Seller/Servicer for Freddie Mac under its Targeted Affordable Housing
      program nationwide and can now sell and service Freddie Mac-targeted
      affordable housing loans secured by properties located anywhere in the
      nation.


  --  Two of the nation's premier multifamily originators have joined the
      company's Washington, D.C./Baltimore office. Paul Aanonsen and Jack
      Bauer both come to Grandbridge from Prudential Mortgage Capital.



Charlotte, N.C.-based Grandbridge has a broad investor base that includes insurance companies, pension fund advisors, commercial banks and capital markets investors, as well as a proprietary lending platform.

The company is a Freddie Mac Program Plus® Seller/Servicer, a Targeted Affordable Housing Lender and a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender. Grandbridge is also a Multifamily Accelerated Processor (MAP) and a multifamily and LEAN health care approved active participant in multifamily products insured by the Federal Housing Administration.

The company arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management, as well as real estate brokerage services. Grandbridge has a servicing portfolio of about $24.8 billion representing nearly 100 capital providers.

For details on the acquisitions and more information about Grandbridge and its locations, visit http://www.gbrecap.com/.

At June 30, BB&T Corporation had $152.4 billion in assets and was the nation's 11th largest financial holding company. Founded in 1872, it operates more than 1,500 financial centers in 11 states and Washington, D.C. More information about the company is available at BBT.com. 

http://www.newscom.com/cgi-bin/prnh/20080303/CLM064LOGODATASOURCE: BB&T Corporation



CONTACT:  Tom Dennard, Chief Executive Officer, Grandbridge,

[phone]; or Media, Patricia Muse, Vice President, [phone]; or

FirstCall Contact: Tamera Gjesdal, BB&T, [phone]



Web Site:  http://www.bbt.com/ 

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