Property Type Industrial
Financing Type Permanent
Date July 19, 2016
The subject loan is secured by a 1,440,000 sf distribution facility that is 100% leased to a credit tenant. The subject sits on just over 74 acres and is located in North Fort Worth, approximately four miles from the Meacham International Airport.
JULY 19, 2016
Fort Worth, TX – Gantry, has arranged permanent financing in the amount of $44,500,000 for the acquisition of a brand new, institutional quality, single-tenant distribution building located in Fort Worth, TX.
George Mitsanas and Tim Storey, principals of Gantry, worked on an exclusive basis with the borrower to arrange the 10 year, non-recourse financing with a correspondent life company. The loan will be serviced by Gantry. The subject loan is secured by a 1,440,000 sf distribution facility that is 100% leased to a credit tenant. The subject sits on just over 74 acres and is located in North Fort Worth, approximately four miles from the Meacham International Airport. Pricing and other terms were not disclosed.
According to Mr. Storey, “Gantry has a lot of experience in arranging financing for institutional quality assets all over the United States. This was the sixth project we have financed for this client within the last three years totaling nearly $300 million.”
Gantry is a full service mortgage banking firm with an impressive 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 approximately $9 billion representing approximately 1,100 loans. Gantry is 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. In 2015, Gantry arranged more than $2.3 Billion in loans for its clients.