Flex Industrial Space
San Francisco, CA
April 9, 2023
Fixed Rate Loan for Class-A Flex Property in Supply-Constrained South Marin County; Life Companies Underwriting Attractive Debt Options at Optimal Rates for Current Market Cycle on Assets with Demonstrable Fundamentals and Quality Sponsorship
San Francisco, Calif. – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $10 million loan to refinance a three building, 38,270-square-foot, flex complex located in South Marin County. The light industrial buildings are located at 45, 55, and 65 Koch Rd fronting the 101 Freeway from a location in the city of Corte Madera. The buildings are 100% leased to two long-term tenants.
Gantry’s Tony Kaufmann, Director, and Alex Poulos, Associate with the firm’s San Francisco production office, secured the financing on behalf the borrower, a private real estate investor. The fixed rate loan secured is at a low interest rate and was provided by one of Gantry’s exclusive correspondent life company lenders.
According to Gantry’s Tony Kaufmann, “Life insurance company lenders have remained active in pursuing their 2023 allocation targets which remain substantially unchanged from 2022. They are looking for high quality assets with a story that articulates long-term market relevancy, and experienced sponsorship. At this point in the cycle, life companies can provide superior rates for their financing when these elements are in place. With that said, the certainty of execution provided by our lenders is what’s truly separating them apart from the rest of the market, as many banks are on pause or have dramatically tightened their credit standards.”