Gelson's Market Store
Laguna Beach, CA
October 20, 2016
Gantry has arranged acquisition financing in the amount of $10,000,000 for a 34,478 square foot free-standing Gelson’s Market grocery store in Laguna Beach. The property is located on Pacific Coast Highway, with an average household income in the surrounding trade area in excess of $160,000. Gelson’s sales are strong at this location and they have ample time remaining on their lease term.
Working on an exclusive basis, George Mitsanas, Principal, and Doug Tisdale, Associate, in Gantry’s Los Angeles office, arranged the fixed-rate, non-recourse financing for the borrower, a Beverly Hills based developer. The 10- year loan was placed with one of Gantry’s correspondent life insurance company lenders and provides for interest only during the first five years followed by a 30-year amortization. Gantry will also service the loan.