Property Type Retail
Date January 18, 2016
Gantry has arranged permanent financing in the amount of $4,000,000 for a 79,306 square foot grocery anchored retail center in Tucson, Arizona.
Gantry has arranged permanent financing in the amount of $4,000,000 for a 79,306 square foot grocery anchored retail center in Tucson, Arizona. The subject property is anchored by Food City (Bashas’), Family Dollar and Factory 2U. The loan collateral also included four retail/restaurant pads that surround the property. The center is located on 7.53 acres of land and was constructed between 1972 and 1976. A portion of the loan proceeds will be used to update the center’s facade. Timothy Storey, a Principal of Gantry, was able to arrange a 7 year fixed rate loan and a 30 year amortization with a competitive interest rate on behalf of the borrower, Menlo Park Shopping Center Company, LLP. With offices in Phoenix, San Francisco, Los Angeles, Irvine, Sacramento, Seattle and Las Vegas, Gantry is a privately held full-service commercial mortgage banking firm that provides financing for income-producing properties. Gantry originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Timothy Storey at (602) 374-7854 or Michael Heagerty at (415) 956-9854.