Branch Banking and Trust Company to acquire Collateral Real Estate CapitalMortgagePress.comMortgage industry acquisitions
BB&T Corporation has announced that its principal
subsidiary, Branch Banking and Trust Company, is negotiating the
acquisition of Collateral Real Estate Capital LLC (CREC) and
expects to complete the transaction by the end of 2007. The
combined company will have a commercial real estate servicing
portfolio of more than $20 billion.
Based in Winston-Salem, N.C., BB&T Corporation is a provider
of commercial and retail banking and other financial services. For
more information, call (800) 226-5228 or visit www.bbt.com.
Collateral Real Estate Capital LLC is a commercial real estate
finance company based in Birmingham, Ala. For more information,
call (205) 978-1840 or visit www.collateral.com.