Property Type Industrial
Financing Type Construction
Date June 25, 2020
Scheduled to be completed in the fall of 2021, the 9.62-acre lot will comprise of two Class-A multi-tenant buildings totaling approximately 144,000 SF.
Gantry, the largest independent commercial mortgage banking firm in the U.S., has arranged $11,950,000 in construction financing for an industrial project in Chandler, AZ. Scheduled to be completed in the fall of 2021, the 9.62-acre lot will comprise of two Class-A multi-tenant buildings totaling approximately 144,000 SF.
Adam Parker, Principal, and Chad Metzger, Senior Associate, of Gantry’s Phoenix’s office, arranged the regional bank loan for Hopewell Development, a repeat client of Gantry who was recently named one of “Canada’s Best Managed Companies” in 2020. The financing was structured with an initial two-year construction term followed by a five-year mini-perm option.
Parker noted, “In recent years, Hopewell Development has been very active in the U.S. marketplace and has quickly earned a reputation of being a best-in-class, Phoenix industrial developer. Hopewell Development has the ability to visualize a project, evaluate its viability and move to execute quickly.”