Property Type Mixed
Date January 19, 2016
Mark Ritchie, a Principal of Gantry, has arranged a $6,000,000 forward funding commitment for a long term ground lease in Escondido, CA.
Mark Ritchie, a Principal of Gantry, has arranged a $6,000,000 forward funding commitment for a long term ground lease in Escondido, CA. The credit tenant was not going to take possession of the project for months after the loan closed, nor may not occupy the building for as long as a year after the loan funded. Mark structured this facility which enabled his client, a well-known southern California based retail developer to lock rate well in advance of funding, but also to fund long before tenant’ construction and occupancy of its 80,000 sq. ft. building.
With offices in Los Angeles, San Francisco, Sacramento, Seattle, Irvine, Las Vegas and Phoenix, Gantry is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Gantry’s production, closing and servicing capabilities. In addition to arranging loans, Gantry is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Gantry is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $6 billion with over 800 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 Mark Ritchie at (310) 846-5303.