Property Type Retail
Financing Type Acquisition
Date January 20, 2016
Gantry has arranged acquisition financing in the amount of $5,200,000 for an 80,800 square foot neighborhood retail center located in Mesa, Arizona.
Gantry has arranged acquisition financing in the amount of $5,200,000 for an 80,800 square foot neighborhood retail center located in Mesa, Arizona. Constructed in the early to mid-1980’s, the property enjoys excellent access and visibility along two major thoroughfares in the East Valley. Upon acquisition, the borrower has plans to significantly renovate the center by improving the exterior, roof and parking lot. Timothy W. Storey, Principal in the Phoenix office, along with James M. Dick, Vice President of Gantry’s San Diego office, and Production Associates, Chad Metzger and Jay Dick, arranged the acquisition bridge loan for the borrower. The 36-month loan was placed with one of Gantry’s existing bridge lending relationships. All other terms and conditions of the loan were not disclosed. Gantry is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Gantry’s production, closing and servicing capabilities. Established in 1991, Gantry is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing over 1,000 loans. Gantry has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information on this transaction, please contact Tim Storey at 602-374-7854, Jamie Dick at 858-793-8400 or Michael Heagerty at 415-956-9854.