Property Type Mixed
Financing Type Fixed-Rate
Date January 14, 2020
“Lender appetite for seasoned real estate with quality sponsorship remains strong nationally and here in Arizona.”
Gantry (formerly Newmark Realty Capital, Inc.), the largest independent commercial mortgage banking firm in the U.S., has arranged $19,600,000 in financing for two (2) industrial flex properties and one (1), Class A office property all located within metropolitan Phoenix.
Patrick Barkley Principal and Chad Metzger, Associate Vice President in Gantry’s Phoenix office worked with the borrower to arrange three separate 10-year, fixed-rate loans through one of Gantry’s life company correspondents. The sponsor has owned the properties since 2011, 2013 and 2014 and was looking to take advantage of the low interest rate environment. Pricing and other terms were not disclosed.
According to Barkley, “Lender appetite for seasoned real estate with quality sponsorship remains strong nationally and here in Arizona. Lenders continue to have a significant allocation of funds in 4Q2019 for assets across the board including industrial, multifamily, office and even retail assets with rates often at or near historic lows. We have built great relationships with the best lending sources and we are able to pair them up with high quality and high character owners.”
At San Francisco-based Gantry, independent thinking is in our genes. As an independent firm, we take a thoughtful and intentional approach to everything we do. So, as our industry consolidates and becomes less personal, we push ourselves to ignore convention, to set a high standard and to always prioritize people ahead of profits. With 30 years of experience, a $13 billion national servicing portfolio, we’re committed to constructing the best deals for our clients. For those seeking a partner that delivers more, we’re a little different. The right kind of different.