Gantry has arranged $271,000,000 in construction and $256,000,000 in permanent financing for an 880,523 square foot, four-building portfolio of office/industrial buildings leased by the US Government.

Working on an exclusive basis, George H. Mitsanas, a Principal of Gantry, along with Associate Vice President, Peter Hillakas, arranged the financing with a correspondent pension fund. Both the construction and permanent loans will be serviced by Gantry. Specific terms of the financing were not disclosed. The properties consist of the new National Archive and Records Administration Headquarters in St. Louis, MO and three new Regional FBI facilities located in Cincinnati, OH, Minneapolis, MN and Portland, OR. The St. Louis Headquarters will be the largest national archives facility outside of Washington D.C. housing documents on both military and civil service employees.

Due to the numerous parties involved and the complexities of each location, the first financing closed in the 4th Quarter of 2009 with the final property closing in October 2010. Challenges in the transaction included a ground lease, option on a facility bond and tight timeframes upon awarding the contract.   Completion dates are estimated to be June 2011 through June 2012. According to local officials in the four states where the projects are located, on a cumulative basis, the portfolio will generate several thousand construction jobs and a similar amount of permanent jobs once the facilities are opened. According to Mr. Mitsanas, “We dealt with a first class family owned development company and a top notch general account pension fund who succeeded where others previously failed. Although our firm has provided capital for many portfolios throughout the years, capitalizing this transaction in today’s weak economy is particularly special due to the number of jobs it created.”