Property Type Industrial
Financing Type Refinance
Date December 17, 2020
The 64,056-square-foot multi-tenant industrial asset is located near the interchange of HW-101 and I-580 along San Rafael’s industrial corridor.
San Francisco, CA (December 17, 2020) – Gantry, the largest independent commercial mortgage banking firm in the U.S., secured a $10,000,000 loan for DuBois Industrial Complex in San Rafael, CA. The 64,056-square-foot multi-tenant industrial asset is located near the interchange of HW-101 and I-580 along San Rafael’s industrial corridor.
Gantry’s Mitchell Zeemont and Tony Kaufmann placed a new 10-year, 30-year amortization loan with Mutual of Omaha that featured partial-term IO. Mutual of Omaha stepped up with a non-recourse quote with very favorable terms, including a fixed-rate rate below 3.00% and prepayment flexibility. Gantry will service the loan as a Correspondent to the Lender. Although the collateral was 1950s-1960s vintage and featured several buildings with metal construction, this is commonplace for this infill submarket, and Mutual of Omaha appreciated this property’s strong occupancy history and central location in Marin County.