Property Type Retail
Financing Type Bridge
Date January 19, 2016
Gantry has arranged bridge financing in the amount of $5,250,000 secured by a Rite Aid-anchored retail center located in Napa, CA.
Gantry has arranged bridge financing in the amount of $5,250,000 secured by a Rite Aid-anchored retail center located in Napa, CA. Demetri Koston, Vice President for Gantry, worked on behalf of the Borrower, to arrange the short term loan on an interest-only basis.
The security is a Class C multi-tenant neighborhood retail center. The retail center is currently in transition with future improvement and development under consideration, and outstanding legacy environmental issues being addressed. Gantry was able to secure financing due to the excellent location, consistent historical performance, strong sponsorship, and relatively low LTV.
Gantry is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Gantry’s production, closing and servicing capabilities. Established in 1991, Gantry is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 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 Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.