Property Type Retail
Date January 19, 2016
Gantry arranged the refinancing of three properties in Sacramento and Placer Counties owned by the same borrower.
Gantry arranged the refinancing of three properties in Sacramento and Placer Counties owned by the same borrower. The occupancy levels for the three properties ranged from 80% to 100%. The refinancing efforts allowed the borrower to reduce the interest rates by more than 1.5%
Eric Von Berg, a Principal of Gantry, and Tom Dao, an Associate Vice President of Gantry, took the financing request to market. Gantry’s correspondent, StanCorp Mortgage Investors, LLC, offered the borrower a menu of options including fixed rates from 3 years to 10 years and a variety of amortization schedules. Gantry will service these loans for its correspondent lender, which means the borrower can contact Gantry with any loan or property related issues during the life of the loan.
Mike Franzoia, Vice President for the borrower, said, “Gantry efficiently packaged the loan applications and managed them through approval and closing all within 60 days. We were extremely satisfied with the smooth closing process.”
With offices in San Francisco, Sacramento, Seattle, Los Angeles, 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 $5 billion with nearly 800 loans. Gantry is rated as a Primary Servicer by Standard and Poors and is one of a select few non-banking / non-insurance chartered companies with this designation.
For more information on this transaction please contact Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.