Greater Boston, MA
January 19, 2016
George Mitsanas, Principal, Peter Hillakas, Vice President, and Michelle Hsieh, Associate, of Gantry’s Los Angeles office, have arranged the construction to permanent financing for the FBI Building in Chelsea, Massachusetts in the amount of $123,000,000. The to-be-built LEED Certified, 220,000 SF office building will complete construction in September 2016 and will be fully occupied by the FBI for 20 years. The non-recourse loan was placed with one of Gantry’s correspondent lenders. Servicing will be done by Gantry. Mr. Mitsanas has completed $2B in construction/permanent loans during the past five years.
“Our firm has a tremendous amount of income property lending experience including credit lease transactions. In most cases, we service our loans. The ownership of this FBI development is a joint venture between two very well respected development families located on opposite ends of the nation. Each had their own preferred mortgage banker so for this transaction we teamed up with CTL Capital, LLC for the assignment. Together, we successfully put together the high profile finance for our mutual clients.”
– George Mitsanas, Principal of Gantry