Grandbridge Real Estate already has a small location in Dallas, courtesy of its acquisition of Birmingham, AL-based Collateral Real Estate Capital LLC in November 2007. "With that acquisition came an office in Dallas dedicated to affordable housing," comments Grandbridge CEO Thomas Dennard.
He goes on to say that the Charlotte, NC-headquartered Grandbridge Real Estate has a "keen interest" in the state of Texas, though the company's expansion rests on opportunity rather than a specific goal. The opportunity presented itself in Houston, Dennard says, though declined to discuss financial specifics.
"This is a very seasoned group of leaders we're bringing on," he tells GlobeSt.com. "It's a young group of leaders there with a tremendous amount of energy for the business and an ability to maintain a high flow of volume in a very, very challenging capital sourcing market."
Grandbridge is a wholly owned subsidiary of Branch Banking and Trust Co. which is, in turn the principal subsidiary of BB&T Corp., headquartered in Salem, NC. Dennard points out that, given Grandbridge's respect for the Texas market and its competition, the company isn't going to charge in, blazing with the desire to acquire everything in sight.
He explains that the company likes seasoned, energetic professionals in middle markets that might otherwise be ignored by the large institutions. "Austin or San Antonio wouldn't be so far-fetched," he comments. "Those are great middle markets, with local customers that might be interested in our products. If the opportunities arise, we'll look at them."
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
