Grandbridge launches Rockies Region office
Hires seasoned industry professionals
CHARLOTTE, N.C., July 8, 2014 /PRNewswire/ — Grandbridge Real Estate Capital LLC announced today it has hired John M. Stewart as senior vice president to manage the firm’s new Rockies Region based in Denver, Colo. Along with Stewart, Grandbridge has also hired Penny A. Newton as vice president in the Denver office.
Stewart, Newton and their team will finance all types of income-producing properties.
“We are excited about John and Penny joining Grandbridge and opening our new Denver office. Their expertise is invaluable as we continue to expand our presence in the West,” said Grandbridge Chairman and Chief Executive Officer Thomas S. Dennard. “John brings more than 30 years of experience and industry relationships to our clients. Combined with Penny’s 20 years of commercial real estate experience, their expertise will immediately enhance Grandbridge’s mortgage origination platform, not only in Denver and the Rockies Region but nationwide.”
“We are extremely fortunate to have John leading our new Rockies Region. His experience, management skills and deep understanding of commercial real estate finance, along with Penny’s industry relationships and loan structure expertise will be instrumental as Grandbridge seeks to better serve our clients in the Denver MSA and greater Rocky Mountains region,” said Grandbridge National Production Manager Executive Vice President Matthew Rocco. “As we continue to grow and expand our lending platform, I’m confident we will benefit from John and Penny’s business development and investment experience, especially as they work in tandem with Grandbridge’s numerous third-party capital providers as well as our balance sheet lending platforms.”
Stewart said he is looking forward to sharing Grandbridge’s wealth of capital sources with clients and prospects.
“I am especially impressed by management’s steadfast focus on growth westward,” he said. “And I am looking forward to adding more seasoned originators to our Denver base of operations, helping Grandbridge become an even more well-known and respected commercial real estate finance resource and industry leader.”
In addition to his expertise in commercial real estate finance, from underwriting to structuring complex capital solutions, Stewart also brings his regional knowledge in multifamily, office, retail and industrial properties to this market. Prior to joining Grandbridge, Stewart served as a senior loan producer with NorthMarq Capital, Capmark Finance Inc., and Bank One.
A licensed real estate broker in California and Colorado, Stewart earned his bachelor’s degree in business administration from Colorado College and his master’s degree in finance from the University of Denver. Stewart’s complete biographical information can be found on Grandbridge’s website at www.grandbridge.com. He can be reached at 303-912-9610 or by email at [email protected]
Penny Newton will focus on loan origination including all aspects of credit, underwriting, loan negotiation and portfolio management.
Prior to joining Grandbridge, Newton served as a client manager with Chase Bank’s Commercial Term Lending group where she focused on originating multifamily transactions ranging from $500,000 to $20 million in the greater Denver and Boulder areas. Her origination expertise was further developed at Washington Mutual where she marketed a new loan program in 2007 originating office, retail and industrial loans. She began her career in Denver in the early 1990s working in asset management on regional transportation commission contracts assisting in the workouts of defaulted commercial real estate loans. Later she moved into conduit lending at Midland Loan Services in Kansas City, Mo. Newton returned to Denver and worked at KeyBank as a vice president assisting the bank’s lenders with the origination of commercial mortgage-backed security loans and later worked at GMAC Commercial Mortgage (now Berkadia) as a senior underwriter primarily focused on Freddie Mac and life insurance company programs.
The Mississippi native earned her bachelor’s degree in business administration with a concentration in banking and finance from the University of Mississippi.
Newton may be reached at 720-217-5450 or by email at [email protected]
About Grandbridge Real Estate Capital
Based in Charlotte, N.C., Grandbridge is a subsidiary of Branch Banking and Trust Company (BB&T). 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. With a current servicing portfolio of almost $29 billion, Grandbridge has a broad investor base of approximately 100 capital providers that includes insurance companies, CMBS investors, pension fund advisors, commercial banks and capital markets investors, as well as its proprietary lending platform, BB&T Real Estate Funding. The company is a Fannie Mae DUS® lender, a Freddie Mac Program® Plus Seller/Servicer, and an approved FHA MAP and LEAN healthcare lender. More information about the company is available at www.grandbridge.com.
SOURCE Grandbridge Real Estate Capital LLC