Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured two permanent loans totaling $15.1 million to strategically refinance a stabilized neighborhood retail center and then retire construction finance for a pre-stabilized self-storage facility. The pair of assets include the OC Point neighborhood retail center located at 19502 Molalla Ave, Oregon City, Ore. and the Nestory Park self-storage facility at 8750 N. 2nd Street, Machesney Park, Ill.

Gantry’s Tom Dao, Principal, and Erinn Cooke, Senior Associate, represented the borrower, a private real estate investor. Both loans were provided by one of Gantry’s correspondent life company lenders, and include the following:

• OC Point/Retail: $9.1 million, five-year, fixed-rate life company loan with 30-year amortization for a 35,000-square-foot, stabilized neighborhood center near Clackamas Community College and other civic facilities.

• Nestory Park/Self Storage: $6 million, five-year, fixed-rate life company loan featuring 30-year amortization to retire construction financing for a recently completed, 93,000-square-foot, pre-stabilized, self-storage facility.

According to Gantry’s Tom Dao, “Working with clients on financing from a portfolio-centric approach strategically harnesses the power of their overall balance sheet and optimizes each loan to achieve a superior blended rate, in this instance across two assets. Gantry identified the appreciated value in a stabilized retail center as viable path to secure cash out commiserate with the fresh equity required to right size debt service on a pre-stabilized self-storage center seeking a permanent loan. This proved to be the winning strategy by avoiding the higher priced bridge debt that would have been required otherwise to retire self-storage construction loan as operations of the center continue to improve towards stabilization.”