Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $13.5 million permanent loan for Eastern Marketplace, a 68,000-square-foot retail center located 10050 Eastern Avenue in Henderson, a southeast suburb of Las Vegas. The property is located near the intersection of St. Rose Parkway and Eastern Ave, with traffic counts in excess of 47,000 vehicles per day. The center is anchored by Smart & Final, with other notable tenants including Dunkin' Donuts, Tous les Jours, and more.

Chris Funai, Senior Director with the firm’s Las Vegas production office secured the loan for the borrower, a sponsor affiliate of the Sansone Companies. The loan was funded by one of Gantry’s correspondent life company lenders and features a 10-year term with a 30-year amortization schedule. Gantry will service the loan for the lender. 

According to Gantry’s Chris Funai, “This asset is strategically positioned with a very strong daytime population and excellent demographics, driving demand for the center and keeping its occupancy high since its acquisition more than 10 years ago. The owners have maintained the property in a pristine condition, something Gantry’s lenders appreciate, knowing the hands-on management style really works for a strong neighborhood retail center. The quality of the asset enabled our firm to attract several strong loan quotes that worked for Sansone Companies, with the selected option offering maximum proceeds at an optimized rate.”