Phoenix, Ariz. – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $9.9 million permanent loan to facilitate the acquisition of a 127,000-square-foot industrial building in Phoenix. The multi-tenant warehouse facility is 100% leased and features 30-foot clear heights, 30 loading docks including four drive-ins. The subject property is located on a premier site, in one of the top performing Submarkets in Metro Phoenix.

Gantry’s Tim Storey, Principal, and Chad Metzger, Senior Associate, with the firm’s Phoenix production office, represented the borrower, a private real estate investor. The seven-year loan was secured from one of Gantry’s correspondent life company lenders and features interest-only terms, prepayment flexibility, and an attractive fixed rate.

According to Gantry’s Tim Storey, “Gantry’s roster of correspondent life company lenders continues to aggressively compete for stabilized industrial assets with best-in-class sponsorship, located in in-fill locations. This access to quality capital sources and extremely stable lenders has allowed Gantry to source accretive options for our industrial clients in a tough cycle. The sponsor for this asset had reached a point in their strategic business plan that required a recapitalization of the asset to provide redemptions for early investors after the successful execution of a strategic leasing program. The interest-only financing at an attractive fixed rate met the sponsor’s continued legacy hold investment plans which included the need for prepayment flexibility.”