Property Type Retail
Date January 19, 2016
Gantry has completed a $59,000,000 CMBS financing for a major destination retail center in Southwest Las Vegas.
Gantry has completed a $59,000,000 CMBS financing for a major destination retail center in Southwest Las Vegas. Blue Diamond Crossing is a 530,000 square foot community shopping center anchored by Kohl’s and Target. The new financing replaced the life insurance company construction take-out financing arranged by Gantry in 2006.
This transaction was complex due to the participating structure of the project’s unsubordinated Clark County ground lease. Over the last fifteen years Gantry has arranged financing involving Clark County ground leases for numerous properties with multiple lenders. Gantry’s team of Producers, Chris Funai, Braden Turnbull, and Peter Welsh, were able to complete this financing on behalf of the borrower.
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 $7 billion representing 900 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 Chris Funai at (702) 304-0437, Braden Turnbull at (310) 846-5301, Peter Welsh at (310) 846-5298, or Michael Heagerty at (415) 956-9854.