Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $7.2 million permanent loan for the acquisition of a 60,405-square-foot single-tenant warehouse building. Located in the Franklin Business Park in Tualatin, Ore., the building is strategically located in a high-tech manufacturing cluster just 12-miles southwest of downtown Portland. The property was acquired vacant with a lease for the entire building in place for long-term a single tenant. The property includes 20,521 square feet of high finish office space.

Gantry’s Blake Hering, Principal, and Keegan Bridges, Associate, with the firm’s Portland office, represented the borrower, a private real estate investor. The 12-year loan was secured from one of Gantry’s correspondent insurance company lenders, with terms including an attractive fixed rate, 25-year amortization, and non-recourse provisions.

According to Gantry’s Blake Hering, “Gantry’s deep relationships with our life company lenders continue to deliver competitive financing solutions for industrial assets. Despite the complexities associated with underwriting a vacant building at onset, our client was able to secure a long-term lease with a single-tenant and secure an optimized, fixed rate loan for one of our premier life company correspondents. In addition to pre-leasing the facility before the transaction closed, the loan also recognized the strength of the sponsor’s track record and the benefits of an industrial park location that had been entirely developed by this same developer. This enabled us to secure an attractive fixed rate aligned with the sponsor’s long-term investment goals.”