Grandbridge Real Estate Capital LLC has hired Randy Engel as senior vice president and office manager for the firm’s new Memphis production office. Along with Engel, Grandbridge has hired Connor Burns as an analyst to assist in the Memphis office at 999 Shady Grove Road South, Memphis, Tenn.
With more than 20 years of experience in mortgage banking, Engel has a lifetime production loan volume of more than $3 billion including life company, agency, CMBS and balance sheet loans. He has received numerous high-producer awards from various life insurance companies and CMBS issuers.
Prior to joining Grandbridge, Engel was in commercial real estate lending and mortgage banking with Magna Bank/Pinnacle Bank where he established their life company correspondent network which grew from zero to 14 correspondents. He also previously established a production office for Laureate Capital, a predecessor of Grandbridge.
In his early career, Engel was with the City of Memphis Housing and Community Development (HCD) office where he was involved with various affordable housing initiatives including HOPE VI and other local grant and inventive programs.
“During his time at Pinnacle, Randy established strong client relationships which will be very complementary to Grandbridge. He also brings longstanding relationships with many of our most valued lending correspondents. We look forward to expanding our market share throughout Tennessee under Randy’s leadership,” said Grandbridge National Production Manager John Randall.
A Chicago-area native, Engel attended Christian Brothers University on a basketball scholarship and then earned his Masters of Science in Real Estate Development from the University of Memphis.
Burns, who joins the new team as an analyst, will be responsible for financial modeling, underwriting analysis, transaction management, and production support.
Burns earned his CPA designation and obtained both an undergraduate and graduate degree in accountancy from Union University in Jackson, TN. While an undergraduate, he was on a soccer scholarship.
About Grandbridge Real Estate Capital LLCHeadquartered in Charlotte, N.C., Grandbridge Real Estate Capital LLC, a subsidiary of Truist Bank, arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management through its broad investor base that includes insurance companies, CMBS investors, pension fund advisors, commercial banks and capital markets investors, as well as its proprietary lending platform. The company is a Freddie Mac Optigo® Conventional Multifamily, Seniors Housing and Targeted Affordable Housing lender, a Fannie Mae DUS® lender, and an approved FHA MAP and LEAN healthcare lender.With a current servicing portfolio of $39 billion, Grandbridge, an S&P strong rated servicer, services loan portfolios and provides asset and portfolio management nationwide for all capital providers including Freddie Mac, Fannie Mae, Ginnie Mae, insurance companies, banks and more than 250 securitizations. More information about Grandbridge and its full line of products and services is available at Grandbridge.com.
For more information about the company, visit Grandbridge.com.
