Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $10.6 million permanent loan to refinance the Mary’s Vineyard Shopping Center, located in the Eastside district of Visalia, California, at the intersection of Highway 198 and Ben Maddox Way. The 153,000-square-foot grocery-anchored shopping center is fully stabilized, with several national retailers, including Save Mart, CVS, Dollar Tree, AutoZone, Starbucks, KFC, Taco Bell, and a mix of health, beauty, banking, and professional services operators.

Gantry’s Tony Kaufmann, Principal, and Erinn Cooke, Senior Associate, with the firm’s San Francisco production office represented the borrower, a private real estate investor. The three-year, fixed rate acquisition loan was secured from one of Gantry’s correspondent life company lenders with terms including 30-year amortization. Gantry will service the loan.

According to Gantry’s Tony Kaufmann, “Suburban and secondary market, grocery-anchored, retail centers have exhibited strong performance throughout the post pandemic cycle and remain a favored loan allocation for Gantry’s life company correspondents. Mary’s Vineyard is a representative case study for underwriting one of these superior permanent loan outcomes in the current market cycle. Experienced sponsorship, demonstrated performance, solid occupancy, and active management. These qualities will generate multiple competitive options for attractive permanent debt when refinancing. Gantry works closely with our client borrowers to identify the right loan from a range of identified options to best serve an asset specific business plan and meet strategic investment goals.”