Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured $7,500,000 in permanent financing for a downtown mixed-use building in Redwood City, CA. The office over retail property was 100% occupied at the time of closing in late April.

Tom Dao, Senior Director in Gantry’s San Francisco office, worked with the borrower on an exclusive basis, in arranging the fixed-rate financing with a correspondent life insurance company. The financing provided an earn out feature, which allowed the borrower to receive additional funds for future leasing activities. Dao noted, “The borrower wanted a low rate, flexible structure, and certainty of execution – we delivered.”

“This is a great investment. Sometimes it is difficult to get a lender to appreciate it, but Tom was able to deliver the analysis along with the underwriting to achieve this financing,” said Don Gibson, owner.

Since March 2020, Gantry has now closed 119 loans, totaling more than $762 million in loan volume. Category highlights for this most recent reporting period of 31 loans includes 10 multifamily financing deals totaling $70.5 million, five office loans totaling $51.8 million, eight retail financings totaling $29.7 million, five industrial loans totaling $29.1 million and two self-storage deals totaling nearly $12.2 million.