Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $17.3 million permanent loan to refinance the Bayside Tech Center, a light-industrial multi-tenant asset located at 47281 & 47361 Bayside Parkway in Fremont, Calif., an East Bay submarket south of Oakland on the I-880 corridor. The asset features two tenant suites encompassing 86,000 square feet, 100% leased and occupied by two high-tech manufacturing tenants in long-term agreements. 

Gantry’s Tony Kaufmann, Principal, Alex Poulos, Associate, and Joe Foley, Associate, with the firm’s San Francisco production office represented the borrower, a private real estate investor. The 10-year, fixed rate, nonrecourse loan was provided by one of Gantry’s life company correspondent lenders and features an initial lockout period followed by flexible prepayment options through the remainder of the loan.

According to Gantry’s Tony Kaufmann, “The East Bay’s 880 high-tech manufacturing corridor remains one of the Bay Area’s healthiest industrial markets. While an older vintage of flexible high-tech industrial space, Bayside Tech Center is still a superlative asset in the modern era and well positioned to take advantage of its strong infill location. Our life company correspondent lenders continue to target stabilized industrial assets as a primary target for their allocations and remain flexible on terms at attractive spreads for qualifying assets.”