Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $8.2 million permanent loan to refinance a medical office building located at 15825 Laguna Canyon Rd in Irvine, strategically located near Kaiser Permanente and Hoag hospital facilities. The 43,000-square-foot facility is 100%-leased in a multi-tenant format to a range of medical specialists and services.

Gantry’s Bahman Mirhashemi, Senior Director, and Sean Kuang, Associate, with the firm’s Irvine production office, secured the loan on behalf of the borrower, a private real estate investor specializing in medical office assets. The five-year, fixed rate, low leverage loan featuring 30-year amortization was provided by one of Gantry’s correspondent lenders.

According to Gantry’s Bahman Mirhashemi, “Medical office continues to perform at a high level as opposed to traditional office and remains a highly targeted asset class for Gantry’s roster of correspondent life company lenders. This optimized loan reflects Gantry’s ability to effectively articulate the property’s strong operative history, sponsor experience, strong fundamentals, and its strategic location within the Irvine Spectrum submarket near two regional hospital facilities. This process allowed us to take this loan to one of our premier life company correspondents to secure a best option rate in what remains a tumultuous rate climate with a non-recourse financing retiring the property’s existing debt while supporting a continued legacy hold.”