Property Type Retail
Financing Type Permanent
Date May 30, 2018
The long term financing will be used to pay off an existing CMBS loan, cover transaction costs, and recoup a portion of the borrower’s equity. Pricing and other terms were not disclosed.
MAY 30, 2018
LOS ANGELES, CA – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured $43.4 million in financing for a premier 285,000 sf shopping center in Lakewood, Colorado. Anchored by King Soopers, a supermarket brand of Kroger, and sub-anchored by Ross, Petco, Old Navy, and Michaels, the 95% occupied property is located within the heart of Lakewood’s “Main & Main,” which is one of the strongest retail corridors in the Denver metro area.
Mark Ritchie, Principal, along with Jasmine Polson, Associate, of Gantry’s Los Angeles office, worked closely with the borrower in arranging the 15-year term, 30-year amortization through a correspondent life insurance company, which will be serviced by Gantry. The long term financing will be used to pay off an existing CMBS loan, cover transaction costs, and recoup a portion of the borrower’s equity. Pricing and other terms were not disclosed.
Gantry, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Gantry’s production, closing and servicing capabilities. Established in 1991, Gantry is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $10 billion represents over 1,300 loans located in 40 states. Gantry is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.