Property Type Industrial
Date January 20, 2016
Gantry has arranged financing for Siempre Viva Business Park, a 104,000 square foot warehouse situated on a 5.55 acre parcel in the Otay Mesa area of San Diego.
Gantry has arranged financing for Siempre Viva Business Park, a 104,000 square foot warehouse situated on a 5.55 acre parcel in the Otay Mesa area of San Diego. Tom Dudley, Principal in Gantry’s Orange County office, and Jamie Dick, Vice President of Gantry’s San Diego office, assisted by Production Associate Jay Dick, arranged the financing for the borrower, a San Diego based investor. The lender is a Gantry correspondent life insurance company. Gantry will be the loan servicer. The lender locked the loan’s interest rate upon receipt of a signed loan application from the borrower which eliminated the borrower’s risk of interest rates rising during the loan process. All other terms and conditions were not disclosed. The subject is located in the heart of Otay Mesa, one of San Diego’s largest industrial submarkets, which is located just 18 miles from downtown and totals 15 million square feet of product. The Otay Mesa Port of Entry is the gateway to Mexico and is California’s largest commercial land border port and one of the busiest commercial land border crossings in the United States. With Phase II of the new Interstate 905 completed in 2011 and the acquisition of State Route 125 by SANDAG, access to Otay Mesa from Interstate 5, 8 and 805 has improved dramatically. Gantry is a full service commercial real estate 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 $9 billion representing 1,000 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.