Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $22 million permanent loan to refinance maturing debt for Chesterfield Commons, a high-performance retail power center located at 100-290 THF Blvd in Chesterfield, a thriving suburb west of St. Louis. The 750,000-square-foot inline center is well stabilized and anchored by Walmart, Sam’s Club, Lowe’s, Best Buy, and Ross. Additional tenants include a mix of 40 restaurant, fast food, beauty, fashion, professional service, sporting goods, banking, home goods, health & wellness and other retailers.

Gantry’s Joe Monteleone, Principal, and Rulin Dai, Associate, with the firm’s St. Louis production office represented the borrower, a private real estate investor. The five-year, fixed rate, non-recourse loan was secured from one of Gantry’s correspondent insurance company lenders and offers full-term interest only. Gantry will service the loan for the lender.

According to Gantry’s Joe Monteleone, “Insurance company lenders continue to deploy a growing percentage of their allocations to loans for retail assets, targeting power, grocery anchored, and neighborhood centers. For high performing, stabilized properties operating in strong MSAs with experienced sponsorship like Chesterfield Commons, Gantry’s insurance correspondents compete aggressively. This can often result in extremely favorable terms, attractive rates, and streamlined underwriting in comparison to other viable permanent debt options like those from the banks and CMBS lenders we survey on behalf of our clients.”