Property Type Retail
Date January 18, 2016
Peter G. Welsh, a Managing Principal of Gantry, recently arranged financing in the amount of $50,000,000 for the Eastern Beltway Center in Las Vegas, Nevada.
Peter G. Welsh, a Managing Principal of Gantry, recently arranged financing in the amount of $50,000,000 for the Eastern Beltway Center in Las Vegas, Nevada. At 633,000 SF, Eastern Beltway Center is one of Las Vegas’ largest power centers and is anchored by national retailers Wal-Mart, Sam’s Club, and Home Depot. Gantry secured the loan through their correspondent Teachers Insurance and Annuity Association of America (TIAA-CREF). Of particular interest, the new TIAA life insurance company financing replaced existing conduit financing on terms competitive with, or superior to, CMBS loans. Peter Welsh has arranged approximately $300,000,000 in financing for seven major retail centers in the Las Vegas area, including four Wal-Mart anchored centers, over the last six years. With offices in Los Angeles, San Francisco, Sacramento, Phoenix, Irvine, Las Vegas and Seattle, 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 insurancecompanies, 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 Peter Welsh at (310) 846-5298, Bahman Mirhashemi at (310) 846-5304, or Michael Heagerty at (415) 956-9854