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Concord Industrial

Englewood, CO





July 10, 2024



Concord Industrial in Suburban Englewood 100% Leased to Three Tenants; Life Company Loan at Attractive Rate for the Cycle Replaces Bank Loan Adjusting Higher

Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $5.1 million permanent loan to refinance the 54,280-square-foot multi-tenant Concord industrial building. Located at 8530 Concord Center Dr. in Englewood, a Denver MSA suburb, the property features three tenants and offers 24-foot clear heights, ESFR, and direct access to the I-25 and E-470 highways and regional proximity to the I-70 logistics corridor.

Gantry’s Stefan Malmlund, Director, and Andy Bratt, Principal, with the firm’s Irvine production office represented the borrower, a private real estate investor. The seven-year, fixed rate loan was provided by one of Gantry’s correspondent life company lenders at an attractive rate for the cycle and features 30-year amortization.

According to Gantry’s Stefan Malmlund, “In a capital-constrained environment, having access to life insurance companies is crucial for ensuring dependable execution at competitive terms. Gantry has nearly 40 correspondent relationships, enabling us to collaborate with borrowers across various asset classes to identify the best fit for their investment goals and property fundamentals. After reviewing this transaction with our client-borrower, we found that the life insurance company's cash-out component and attractive rate offered the best fit for the sponsor's business plan. With their current loan adjusting to a higher variable rate, the borrower wanted to refinance the property at a lower all-in fixed rate. Additionally, with a recently signed lease, they were able to capitalize on this opportunity by taking some cash out of the property for other acquisitions. One of our life insurance correspondents stepped up to provide both the desired cash-out and an extremely competitive spread relative to the market.”

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