January 19, 2016
Gantry has arranged permanent financing in the amount of $39,400,000 for the refinance of an institutional quality, single-tenant distribution/packaging building located in Indianapolis, Indiana.
George Mitsanas and Tim Storey, Principals of Gantry worked on an exclusive basis with the borrower to arrange the 15 year fully amortizing, non-recourse financing with a correspondent life company. The loan will be serviced by Gantry. Pricing and other terms were not disclosed.
The subject loan is secured by a 1,119,195 sf distribution and packaging facility that is 100% leased to a credit tenant. The subject sits on just over 68 acres and is located on the west side of Indianapolis, one half mile from the Indianapolis International Airport.
“Gantry has a lot of experience in arranging financing for institutional quality assets all over the United States. This is the fifth project we have financed for this client within the last two years totaling over $250 million.”
-George Mitsanas, Principal of Gantry