Gantry arranged a fixed-rate, 15-year $7,300,000 loan for Peninsula Storage Center, a 789-unit, one and two-story public storage facility in Mountain View.

Eric Von Berg, a Principal at Gantry, and Tom Dao, an Associate Vice President at Gantry, were able to get aggressive quotes from a number of life insurance companies due to the project’s in-fill location, excellent maintenance and strong sponsorship. John Hancock Life Insurance won the deal with excellent pricing and flexibility.   “We’re very pleased with the loan and the timely closing” said Scott Ward, Vice President of Classic Communities, who developed and owns the property. This loan adds to a growing relationship between John Hancock and Gantry.

John Hancock, combined with its parent company, Manulife Financial Corporation, comprises one of the largest life insurers worldwide. The Real Estate Finance Group invests money nationally, on behalf of the John Hancock’s General Account. At year end 2010, the Group managed a commercial property loan portfolio in excess of $12 billion.

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.