Property Type Retail
Date January 19, 2016
Mark Ritchie, a Principal of Gantry, has arranged an acquisition/bridge loan for an extremely active southern California based retail developer.
Mark Ritchie, a Principal of Gantry, has arranged an acquisition/bridge loan for an extremely active southern California based retail developer. The 84,000 sq. ft. Albertson’s anchored Center is 50 years old and in need of updating. Both banks and bridge lenders were interested in providing financing on a very competitive basis and ultimately a local Bank loaned $8.3MM at a competitive interest rate.
With offices in Los Angeles, San Francisco, Sacramento, Seattle, 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 $6 billion with over 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 Mark Ritchie at (310) 846-5303.