Property Type Office
Date January 19, 2016
Gantry arranged a 5-year, $23,200,000 loan secured by a 45,319 square foot building in downtown Palo Alto. The subject property is leased to Switch & Data, who use the building as a collocation facility.
Gantry arranged a 5-year, $23,200,000 loan secured by a 45,319 square foot building in downtown Palo Alto. The subject property is leased to Switch & Data, who use the building as a collocation facility.
Eric Von Berg, a Principal at Gantry, and Tom Dao, an Associate Vice President at Gantry, created a competitive market for this transaction showing the loan opportunity to 55 lenders: life insurance companies, conduits and banks. Competition for this deal allowed the borrower, Menlo Equities, to achieve the best rate and flexible terms. Ken Wong, Chief Financial Officer at Menlo Equities, commented: “Eric did his homework becoming very knowledgeable about this property and its unique value as an internet exchange site. We are happy with the loan terms and lender we selected.”
With offices in San Francisco, Sacramento, Seattle, Los Angeles, Irvine, Las Vegas and Phoenix, Gantry is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Gantry’s production, closing and servicing capabilities. In addition to arranging loans, Gantry is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Gantry is currently staffed by approximately 50 employees in seven regional offices throughout the western United States. The company services over $5.5 billion with nearly 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 Eric Von Berg at (415) 956-9922 or Michael Heagerty at (415) 956-9854.