Property Type Industrial
Financing Type Permanent
Date July 1, 2021
Gantry Places New 10-Year Loan on Single Tenant Asset; Gantry Obtains Higher Leverage Bank Financing Reflecting Strength of Ownership, Tenancy and Location
Emeryville, Calif. – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $44.25 million loan for a single-tenant life sciences building located in the East Bay’s Emeryville submarket. The 66,973-square-foot building is 100-percent occupied by a publicly traded, fast-growing life science firm headquartered in the East Bay. The property was renovated in 2019 and is positioned in one of the Bay Area’s most desired infill concentrations for life sciences operators with convenient access to I-80 and the Bay Bridge.
Gantry’s Mitchell Zeemont and Tony Kaufmann secured the financing for the 10-year permanent loan with a commercial bank lender after obtaining and vetting various options in a highly competitive lending landscape. This was Gantry’s third time strategically consulting and securing financing for the same borrower on this legacy asset.
According to Gantry’s Kaufmann, “Emeryville is at the epicenter of the Bay Area’s burgeoning life sciences/bio-tech market. With limited inventory and virtually no available land for development, both investor and tenant demand continue to surge, which is good for generating significant interest from a host of top-tier lending sources in a flight to quality debt market. The subject property is positioned at a Main & Main location that is also adjacent to BioMed Realty’s future Emeryville Center of Innovation project, a 910,000-square-foot multi-tenant life sciences redevelopment project that recently received approval from the city.”