Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $55.9 million purchase money permanent loan for the acquisition of the Huntington Oaks retail center located at 500-600 W. Huntington Dr in the city of Monrovia, a Los Angeles County suburb in the region’s San Gabriel Valley submarket. The acquisition encompasses 251,000 square feet of leasable space, with major tenants including a mix of national retailers, restaurants, and services.

Gantry’s George Mitsanas, Principal, Braden Turnbull, Principal, and Austin Ridge, Associate, with the firm’s Los Angeles (El Segundo) production office represented the borrower, a private real estate investor. The five-year, fixed rate loan was secured through one of Gantry’s correspondent insurance lenders, underwritten to full term interest-only. This fixed interest rate loan offers tremendous flexibility, structure and will be serviced by Gantry.

According to Gantry Principal George Mitsanas, “The transaction market is picking up as maturing debt motivates price discovery. There are many experienced sponsors and investors with significant equity on hand to transact in this phase of the cycle, and we expect to see the pace of investment sales increase into 2025. Retail has remained a strong performer post COVID. That has not gone unnoticed by our extensive roster of lenders, who continue to prioritize allocations to power center, grocery anchored, and neighborhood retail assets in both urban and suburban markets.”