Property Type Retail
Financing Type Acquisition
Date October 5, 2016
Gantry has arranged permanent financing in the amount of $31,000,000 for a 130,000 square foot “trophy” asset located on a “Main & Main” intersection for retail in Tucson, Arizona.
OCTOBER 5, 2016
Tucson, Arizona – Gantry has arranged permanent financing in the amount of $31,000,000 for a 130,000 square foot “trophy” asset located on a “Main & Main” intersection for retail in Tucson, Arizona. The subject offers a diverse shopping experience including off-price retailers, sporting goods and signature fast casual dining. In addition, the subject has a long history of being a landmark retail center in the central-east corridor of Tucson.
Tim Storey, Principal in Gantry’s Phoenix office, worked with the borrower to arrange the 5-year, non-recourse acquisition financing with one of Gantry’s correspondent relationships. In addition, Gantry assisted in arranging the equity required for the purchase. Pricing and other terms were not disclosed.
Gantry is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Gantry’s production, closing and servicing capabilities. Established in 1991, Gantry is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Gantry is rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. In 2015, Gantry arranged more than $2.3 Billion in loans for its clients.