Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $17.8 million permanent loan to retire maturing construction debt from the successful repositioning of North Reno Plaza. The center, located at 1901 Silverada Blvd in Reno, successfully completed a comprehensive renovation initiated in 2024 introducing a new El Super supermarket, free standing Starbucks with drive through, Burlington Coat Factory location and overall center improvements. The 130,000-square-foot center also features a roster of fast food, professional services, and fitness businesses strategically located along the recently expanded Oddie Blvd corridor.

Gantry’s Tony Kaufmann, Principal, and Alex Poulos, Associate, with the firm’s San Francisco production office represented the borrower, a private real estate investor. The five-year, fixed rate, non-recourse loan was provided by one of Gantry’s close relationship lenders and includes partial term interest only transitioning to a 30-year amortization schedule. The new loan refinanced the construction debt Gantry arranged for the borrower in 2024.

According to Gantry’s Tony Kaufmann, “After securing the initial construction financing for a major repositioning of this strategically located center, our team was ready and prepared to deliver a permanent loan solution upon the borrower’s successful completion. With the delivery of a new El Super grocery, Burlington Coat Factory location, and drive through Starbucks maximizing performance at the center, we were able to tap Gantry’s extensive roster of lenders to identify a superior permanent loan offering maximum cash out proceeds, a stable fixed rate, and partial term interest only to enhance early cash flows. Heading into 2026, life companies will remain a ready source for attractive debt on neighborhood anchored-retail centers.”