Property Type Mixed
Date January 18, 2016
Gantry has arranged permanent financing for two multi-tenant, NNN leased retail properties in the East Bay.
Gantry has arranged permanent financing for two multi-tenant, NNN leased retail properties in the East Bay. Working on an exclusive basis, Terri M. Slocombe, a Principal in Gantry’s San Francisco office, provided permanent financing through one of Gantry’s life company correspondents, The Standard, for Dempsey Plaza in Milpitas and Irvington Plaza in Fremont. Dempsey Plaza is a 16,268 square foot multi-tenant retail property located near the intersection of Interstate 680 and Landess Avenue in Milpitas. The $1,200,000 permanent loan has a fixed rate and provides for 30 years of financing on a 30 year amortization schedule. Irvington Plaza consists of a recently remodeled Safeway shadow-anchored retail center with a combined 21,000 SF of NRA and is leased to multiple retail tenants. The $1,400,000 financing was structured on a fifteen-year fully amortizing basis. Gantry has worked with and provided loan placement for this client for over 15 years. 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. Established in November 1991, Gantry is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $5 billion with nearly 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 Terri Slocombe at (415) 956-9898 or Michael Heagerty at (415) 956-9854.