Lowe's Ground Lease
Rancho Cucamonga, CA
January 19, 2016
George Mitsanas, Principal, Braden Turnbull, Principal, and Michelle Hsieh, Associate, of Gantry’s Los Angeles office, have arranged the acquisition financing for the fee interest of a Lowe’s ground lease. The $5,900,000, fixed-rate, interest only loan is for a 10-year term and was placed with one of Gantry’s life insurance correspondent lenders. The loan will be serviced by Gantry.
The property is nearly 15 acres of land and located on a main intersection in the city of Rancho Cucamonga, in the Inland Empire of Southern California. Lowe’s has approximately six years remaining on their lease with options to extend. The fee interest is part of a larger center that leases to an Islands, Farmer Boys, and Union Bank.