Property Type Retail
Date January 18, 2016
Demetri M. Koston and Braden C. Turnbull, both of Gantry, have arranged construction and permanent financing totaling $10,650,000 for a new health club facility.
Demetri M. Koston and Braden C. Turnbull, both of Gantry, have arranged construction and permanent financing totaling $10,650,000 for a new health club facility. The 60,000 square foot health club is being built on previously vacant land in Antioch, CA. The club is already pre-selling memberships, and is expected to open in the late spring of 2007. The construction financing will convert to permanent financing upon project completion. The interest rate for the permanent loan has already been fixed for the entire term of the loan. Specific terms of the loan were not disclosed. 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 November 1991, Gantry is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 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 Demetri Koston (310) 846-5306, or Michael Heagerty (415) 956-9854.