Property Type Retail
Date January 18, 2016
Gantry, Inc has arranged permanent financing in the amount of $3,705,800 for three single-tenant NNN leased investments located in California and New Mexico. Robert Slatt, a Vice President in Gantry’s San Francisco office, secured financing for the three properties through national and regional credit unions and a regional bank.
Gantry, Inc has arranged permanent financing in the amount of $3,705,800 for three single-tenant NNN leased investments located in California and New Mexico. Robert Slatt, a Vice President in Gantry’s San Francisco office, secured financing for the three properties through national and regional credit unions and a regional bank. The first property, a Romano’s Macaroni Grill restaurant, is located in Folsom, CA. The acquisition financing was structured with a regional bank on a ten-year loan term with the initial interest rate fixed for five years on a twenty-five year amortization schedule. The subject property consists of a 7,000 SF building located as an outparcel to a Home Depot anchored power center. The total debt on the property equaled $1,420,800 representing a 60% loan to value. The second property, a Sweet Tomatoes restaurant, is located in Albuquerque, NM. The permanent refinance was structured with a national credit union on a five-year loan term with a five-year fixed interest rate on a thirty-year amortization schedule. The subject property is a 7,295 SF free standing building located on a main thoroughfare in Albuquerque. The refinance totaled $1,265,000 representing a 70% loan-to-value. The final property, a free standing Burger King restaurant, is located in Hayward, CA. The acquisition financing was structured with a regional credit union on a five-year loan term with a five-year fixed interest rate on a thirty-year amortization schedule with no prepayment penalty. The subject property is a 2,670 SF building located directly adjacent to two of Hayward.s major arterial thoroughfares. The total debt on the property equaled $1,020,000 representing a 60% loan-to-value. With offices in San Francisco, Sacramento, Los Angeles, Irvine, Seattle, 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. Established in November 1991, Gantry is currently staffed by over 50 employees in seven regional offices throughout the western United States. The company services over $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 these transactions please contact Robert Slatt at (415) 946-6246 or Michael Heagerty at (415) 956-9854.