Gantry, the largest independent commercial mortgage banking firm in the U.S., places a $12.2 million permanent loan to refinance a 71,500-square-foot industrial building located at 45541-45581 Northport Loop West in Fremont, Calif., a strategic submarket connecting the Bay Area to Silicon Valley. The building features 10-bay doors with 18-foot clear heights and is 100% occupied by two long-term tenants.

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 long-term fixed rate loan was provided by one of Gantry’s exclusive correspondent life company lenders and is optimized for prepayment flexibility.

According to Gantry’s Tony Kaufmann, “We continue to see a wide range of attractive permanent loan programs to refinance from our correspondent life company lenders. The Northport Loop building has strong performance history with two long-term tenants and an experienced sponsor that owns the asset at a conservative leverage point. This allowed us to review options and ultimately secure a permanent loan from one of our top correspondent lenders at an attractive rate for the cycle that featured extensive prepayment flexibility, a client priority. Industrial remains a prioritized allocation for most of our lenders, which allows us to tailor loan programs with our correspondents to serve diverse client investment goals.”