Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $11.75 million bridge loan to fund the spec renovation of a mature flex industrial/R&D building located at 415 Oakmead Pkwy in Sunnyvale, a key submarket on Silicon Valley’s 101 Tech corridor. Planned renovation of the 65,589-square-foot facility will completely modernize exterior treatments and surfaces and prepare a blank core for full occupancy or subdivision to serve future tenants. The project loan includes ready funds for future tenant improvements and leasing commissions.

Gantry’s Murphy Osborne, Director, and Alex Poulos, Associate, with the firm’s San Francisco production office represented the borrower, a private real estate investor. The three-year bridge loan was provided by a regional bank from Gantry’s extensive roster of vetted lenders and features an attractive variable rate and an extension clause if desired. Cushman & Wakefield is representing sponsorship for leasing at the project.

According to Gantry’s Murphy Osborne, “High quality flex industrial space is the backbone of Silicon Valley’s entrepreneurial landscape, and the dynamic momentum building from AI is fueling a new era of strong economic growth in the nation’s tech heartland. Demand drivers and a clear plan for transforming this mature asset into a modern blank slate ready to customize for a new tenant allowed Gantry to shop this loan across multiple funding options from a broad roster of insurance company, debt fund and bank sources. After a diligent market survey, a competitive loan from a regional bank provided the optimal terms. This includes an attractive rate and ready funding for leasing commissions and customized tenant improvements to ultimately fill the transformed space.”