Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured $42.8 million in four permanent loans to refinance a portfolio of neighborhood retail centers sponsored by Rhino Investments Group (RIG) located in California, Illinois, Oregon, and Wisconsin totaling over 480,000 leasable square feet. The properties included pre-leased space pending tenant openings, and the financing was structured to accommodate the lease-up period while providing liquidity to the sponsor at a fixed rate that significantly reduced its cost of capital.

 

Loan proceeds retired existing debt, funds tenant improvements, and provides additional cash-out tied to executed leases with future occupancy dates. The structure allows the sponsor to repatriate capital to investors while maintaining flexibility as the portfolio moves toward full stabilization.

 

The institutionally managed neighborhood retail centers are internally operated by RIG, an experienced sponsor focused on value-add retail with an active repositioning and leasing platform. Anchor tenants across the portfolio include grocery, hardware, auto supply, fashion, home furnishings, banking, professional services, health and wellness, restaurant, and entertainment operators.

 

Gantry Principal Andy Bratt and Associate Sean Kuang with the firm’s Irvine production office represented the borrower, a series of RIG affiliates. All four loans were placed with a single Gantry correspondent life company lender and feature fixed interest rates with 30-year amortization schedules. Gantry will service the loans. Assets include:

 

• California: Cathedral City Marketplace, Cathedral City – 185,165 SF / $20.1 million

• Illinois: 7915 N. Hale Avenue, Peoria – 99,900 SF / $5.8 million

• Oregon: Lancaster Marketplace, Salem – 109,000 SF / $12.5 million

• Wisconsin: Manitowoc Shopping Center, Manitowoc – 87,200 SF / $4.4 million

 

According to Gantry Principal Andy Bratt, “Life company lenders continue to provide attractive long-term capital for well-located neighborhood retail and are showing a strong appetite as we’ve entered 2026. By recognizing the embedded upside from executed leases, we secured a single-lender execution without cross-collateralization, providing the sponsor with flexibility and cost certainty while avoiding more expensive bridge financing. The sponsor’s track record, ability to reposition retail centers, and active management approach resonated with one of our top correspondents, allowing us to secure the debt across all four assets.” 

About Rhino Investments Group

Rhino Investments Group is a privately held, diversified real estate acquisition and development firm whose principal competency lies within the repositioning and redevelopment of underutilized, distressed or environmentally challenged properties. Rhino Investments’ North American accumulative acquisition and development portfolio includes over 6-million-square feet under roof located on over 40+ sites throughout the United States. For more information, please visit www.rhinoinvestmentsgroup.com