Gantry has arranged financing in the amount of $12,750,000 for the refinance of a 42,973 square foot Albertsons supermarket located in the East Village neighborhood of downtown San Diego. The supermarket occupies the ground floor of a 7-story, mixed-use development, which includes a 229-unit luxury apartment complex.

Jamie Dick, Vice President of Gantry’s San Diego office, assisted by Production Associate Jay Dick, arranged the financing for the borrower, a southern California based investment management company. The lender is an east coast based bank, which agreed to a 10 year, fixed-rate loan. Other terms and conditions were not disclosed.

Located west of Interstate 5, the East Village neighborhood, originally intended for industrial and warehouse development, is now a thriving urban enclave. Beginning with redevelopment, and particularly after 2004, after the opening of Petco Park – home to the San Diego Padres MLB team, the area is now home to more than 700 businesses including upscale restaurants, hotels, trendy shops, and art galleries. The neighborhood has become a hub of construction projects, including condominiums and other public spaces, including the recently completed $185 million San Diego Central Public Library.

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 $7.5 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 Jamie Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.