Property Type Office
Financing Type Fixed-Rate
Date March 4, 2020
Located on 1320 Decoto Road, the 30,757 sf, newly constructed building is part of Union City’s Station District, within the same supper-block as the Union City BART station. The borrower, Woodstock Development, also has conceptual approval for a 1,200,000 sf campus development named The Union 1.2 @ BART.
Gantry, the largest independent mortgage banking firm in the U.S., has arranged $11,500,000 in fixed-rate refinancing for a two-tenant office property in Union City, CA. Located on 1320 Decoto Road, the 30,757 sf, newly constructed building is part of Union City’s Station District, within the same supper-block as the Union City BART station. The borrower, Woodstock Development, also has conceptual approval for a 1,200,000 sf campus development named The Union 1.2 @ BART.
Gantry’s Eric Von Berg, Principal, and Tom Dao, Senior Director, worked closely with the borrower to determine an appropriate loan structure that aligned with the borrower’s plans. Secured at a competitive market rate, the loan is fixed for the first five years with a flexible pre-payment structure during that period. The structure provides maximum cash flow within the first two years, after which, the loan would amortize over a 25-year schedule. Working with the lender, Gantry coordinated the loan underwriting, due diligence, and closing process, providing the borrower confidence of execution.
“We were confident that this is an exceptional property that is strategically located to be successful. Tom and Eric helped us find a lender who appreciated it as much as we did and provided a loan that worked for us,” said William Syme and Kirk Syme of Woodstock Development.
Gantry, a privately held company based in San Francisco, is a full-service commercial mortgage banking firm. Established in 1991, Gantry is staffed by 90 employees in its regional offices. Gantry is the correspondent/servicer on behalf of a roster of the leading life insurance, CMBS and Agency lenders in the nation, placing over $4 billion per year in loans. Gantry’s national servicing platform encompasses over $16 billion, representing over 2,000 loans located in 40 states. Gantry is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance-chartered companies with this designation.