George Mitsanas of Gantry has arranged permanent financing in the amount of $48,500,000, with a 20 year term, amortized over 25 years, for the Marina Pacifica Shopping Center located in Long Beach, California.  Gantry arranged the financing with Teachers Insurance & Annuity Association which is part of TIAA-CREF, a national financial services company and leading provider of retirement services in the academic, research, medical and cultural fields.

The subject property is a 477,476 SF seasoned retail center generating store sales at the top of their respective chains.  The subject is anchored by Ralph’s, AMC, Tower Records and Good Guys.  Some strengths behind the property are its excellent occupancy history and experienced LA based private borrower.  The retail center is adjacent to Naples and Belmont Shore, Long Beach’s most exclusive neighborhood.

Gantry is a full service commercial mortgage banking firm that provides mortgage loans for income-producing properties.  Gantry originates and services loans for its correspondent lenders who include Genworth (formerly GE Asset Management), StanCorp Mortgage Investors, LLC, ING Investment Management, TIAA-CREF (Teachers), Canada Life, American Fidelity Group, Collateral Mortgage Capital, LLC, Advantus, State Farm Life, Allstate Life, and AIG Global Investment Group, Inc.  Gantry also arranges financing with a variety of other insurance companies, Wall Street conduits, commercial banks, and lending institutions.