Working on an exclusive basis, Gantry has arranged permanent financing in the amount of $110,850,000.  The financing is secured by a portfolio of trophy retail properties located primarily along Melrose Avenue, in the Beverly Hills triangle and along Montana Avenue and Main Street in Santa Monica. The portfolio also included several high-end retail buildings in Newport Beach, San Diego, Ventura, and Paso Robles.

George Mitsanas, Principal, Peter Hillakas, Vice President, and Michelle Hsieh, Associate of Gantry’s Los Angeles office worked on behalf of the borrower to arrange the long-term, fixed rate, non-recourse financing through a correspondent life insurance company.   Originally, the borrower was seeking financing for only a portion of their portfolio. Pleased with the rate, terms, and Gantry’s execution, the borrower then engaged Gantry to arrange $100 million in financing for an additional portfolio of similar quality assets.   Closing for this second portfolio is scheduled for February, 2013.

“Gantry has a tremendous amount of experience in portfolio financing. Putting a deal like this together requires much knowledge in dealing with all of the players involved and a comprehensive understanding of the client’s needs and what options are available in the marketplace. “
-George Mitsanas, Principal of Gantry

Gantry is a full service mortgage banking firm with a strong lineup of correspondent lenders that utilize Gantry’s production, closing and servicing capabilities. Established in 1991, Gantry is currently staffed by over 50 employees in regional offices throughout the western United States. The company services approximately $7 billion that represent over 875 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 George Mitsanas at 310-846-5299, Peter Hillakas at 310-846-5315, or Michael Heagerty at 415-956-9854.