Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $14 million permanent loan to refinance the AAA Quality Self Storage facility located in Tustin, a Central Orange County suburb. The stabilized facility offers 827-units including RV storage in a mature, high barrier to entry suburban market with proximity to new housing growth and regional freeways.

Gantry’s Braden Turnbull, Principal, Peter Welsh, Principal, and Austin Ridge, Associate, with the firm’s Los Angeles (El Segundo) and Irvine production offices represented the borrower, a private real estate investor. The 10-year, fixed rate CMBS loan was placed with one of Gantry’s preferred conduit lenders and features interest-only terms and prepayment flexibility after an introductory lock-up period.

According to Gantry’s Braden Turnbull, “Gantry’s experience financing self storage facilities across the nation has allowed us to develop a deep roster of debt sources for investment, finance and development funding in the asset class. For this assignment on behalf an experienced sponsor with a fully stabilized property, we reviewed options with a range of life company and CMBS lenders. Our client’s desire to maximize proceeds from the property’s strong cash flows and superior location in a high barrier to entry market with strong long-term fundamentals identified a top-tier conduit lender offering the best surveyed rate with interest only terms to support our client’s legacy hold business plan.”