AUGUST 23, 2016

VENTURA, CA – Gantry arranged the refinancing for Ventura Power Storage with a 20-year, fixed-rate loan.  The new loan is fully amortizing, which is a very good match for a leasehold property.  The property consists of 1,622 storage units. SKS Management, a top tier self-storage management company, oversees the operation. The borrower locked in a good interest rate 6 months prior to the open prepayment period on its maturing loan. The lender was an insurance-company lender that uses Gantry as its loan correspondent. This type of forward rate lock is especially beneficial in times of interest rate volatility. Gantry will be servicing this loan on behalf of the lender. This arrangement assures the borrower good loan service and continuity of relationship at Gantry and the lender.

The origination team at Gantry consisted of Eric Von Berg, Principal, and Tom Dao, Associate, who provided certainty of execution through a smooth underwriting, due diligence and closing process.

“Tom and Eric provided a seamless process from origination to loan closing, and gave us the confidence that we could complete this refinancing in this environment of interest rate volatility.  With the new loan, we were able to avoid impounds, bank charges, and improved our cash flow significantly,”

– Susan Matthews, Managing Partner.

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.