Property Type Office
Financing Type Permanent
Date January 19, 2016
Gantry has arranged permanent financing in the amount of $6,500,000 secured by two medical office properties totaling 50,000 square feet and located in Henderson, Nevada.
Gantry has arranged permanent financing in the amount of $6,500,000 secured by two medical office properties totaling 50,000 square feet and located in Henderson, Nevada. Christopher Funai, Vice President for Gantry in Las Vegas, procured the loan from a CMBS lender who closed the non-recourse loan despite the very turbulent markets of July 2013.
This loan was Gantry’s second over the last nine months with the same borrower/lender combination. Despite the volatile conditions in the bond-market, the lender closed with a 10-year fixed rate that remains well below historical levels. The borrower is a strong, local operator and has been able to maintain excellent occupancy in both properties despite the prolonged weak office market in Southern Nevada. The lender did not assess an origination fee and the interest rate was below 5.60%.
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 $7 billion representing 900 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 Chris Funai at 702-304-0437 or Michael Heagerty at 415-956-9854.