Gantry has arranged financing in the amount of $15,000,000 for the refinance of a 69 room hotel and a 132 room hotel located in Mira Mesa, a suburban community in the San Diego, California.

Jamie Dick, Vice President of Gantry’s San Diego office, assisted by Production Associate Jay Dick, arranged the financing for the borrower, a private investor in southern California. The lender is an east coast based institutional lender. All other terms and conditions were not disclosed.

Since its inception, Mira Mesa was largely influenced by the military located at adjacent NAS Miramar. Mira Mesa was the northernmost community of San Diego and was separated from the rest of the city by NAS Miramar for many years. For nearly 30 years the Navy’s Top Gun School was located in Mira Mesa and most of the pilots made their homes in the area. Beginning in the late 1990s the Mira Mesa area has undergone extensive expansion to accommodate the thousands of new residents attracted by its close proximity to major employers like UC San Diego, MCAS Miramar, Qualcomm, and dozens of biotech and pharmaceutical companies. Several commercial and industrial centers have been built within the Mira Mesa area.

Gantry is a full service mortgage banking firm with a strong 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 over $7.5 billion representing 900 loans. Gantry has been 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.

For more information on this transaction please contact Jamie Dick at (858) 793-8400 or Michael Heagerty at (415) 956-9854.