Property Type Retail
Financing Type Permanent
Date August 30, 2017
Tim Storey, Principal in Gantry’s Phoenix office, worked with the borrower to arrange the 10-year, non-recourse, acquisition financing with one of Gantry’s correspondent relationships. In addition, Gantry assisted in arranging the mezzanine loan as part the purchase.
AUGUST 30, 2017
MESA, AZ – Gantry has arranged permanent financing in the amount of $30,000,000 for a 236,000 square foot “Class A” asset located just off a full-diamond interchange in one of the fastest growing cities in the United States, Mesa, Arizona. The subject offers a diverse shopping experience including numerous national tenants, 92% of the subject’s tenancy, and signature casual dining options. National tenants include Petsmart, Office Max, Michaels, Starbucks, and Party City. In addition, the subject has a long history of being a landmark retail center in the east valley of metropolitan Phoenix.
Tim Storey, Principal in Gantry’s Phoenix office, worked with the borrower to arrange the 10-year, non-recourse, acquisition financing with one of Gantry’s correspondent relationships. In addition, Gantry assisted in arranging the mezzanine loan as part the purchase. Pricing and other terms were not disclosed.
“Gantry is very appreciative for the opportunity to work with the team at DSW again. This transaction had several moving pieces that resulted in a little more structure than normal. In order to close the loan the borrower required both senior debt and mezzanine debt. Gantry was able to arrange for very competitive terms with one of our most trusted CMBS lenders in combination with a very reliable mezzanine lender.”
-Tim Storey, Principal
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 1,200 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.