Grandbridge Real Estate Capital, a wholly owned subsidiary of BB&T (BBT), is buying Dwyer-Curlett & Co., a commercial real estate finance firm based in Los Angeles.
The deal, announced Monday, would give Charlotte-based Grandbridge three offices in Southern California and add to the company's portfolio, which focuses on loans up to roughly $250 million for commercial and multifamily real estate nationwide. A sale price was not disclosed.
"We're enthusiastic about bringing Dwyer-Curlett's experienced production and asset management team onboard," David Roberts, Grandbridge's chief operating officer, said in a news release.
"Our origination and servicing expertise combined with the large resource base at Grandbridge will make for a very successful union," Shelley Magoffin, Dwyer-Curlett's chief executive, added in a news release.
The deal, which is expected to close Nov. 30, comes amid
