Los Angeles, Calif. – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a total of $21.6 million in construction-to-permanent financing for the development of a 33,700-square-foot grocery-anchored retail project located at 11265-11321 Ventura Blvd in Studio City, a submarket within the city of Los Angeles.

Gantry’s Braden Turnbull, Principal, George Mitsanas, Principal, and Austin Ridge, Associate, with the firm’s Los Angeles (El Segundo) office represented the borrower, a private real estate entity. The five-year construction-to-permanent loan was provided by one of Gantry’s correspondent lenders, offering an attractive fixed rate and interest only terms over the life of the loan.

According to Gantry’s Braden Turnbull, “Gantry works closely with our insurance company correspondents to innovate loan programs like construction-to permanent-financing. Behind the scenes of this transaction, Gantry has worked closely over two years with one of our long-standing correspondents to develop a C2P program that met their investment committee approval.  This is the first loan of that successful effort. Subsequently, our team sourced a range of quotes before landing on this life company execution. Liquidity is there for construction when the right sponsor tells the right story about their vision for a relevant build supported by strong fundamentals and a clear development plan.”

Gantry’s George Mitsanas added, “Gantry has organized and continues to organize a wide variety of construction loans ranging in size from several million dollars to well over five hundred million dollars.  Our reach, especially for larger and complex transactions, is throughout the nation. Currently, we have several hundred million dollars of construction-to-permanent loans either in the process of closing or now under construction.”