Phoenix, Ariz. (May 15, 2025) – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $9 million construction loan for development of three new dining locations at an eight-acre site located at the southeast corner of McDowell Rd and N 107th Ave in Avondale, a West Valley suburb of Phoenix. The project represents phase four of the Park 10 retail center and will deliver new locations for Cooper’s Hawk Restaurant, 85C bakery and one more tenant to be announced soon.

Gantry’s Adam Parker, Principal and Chad Metzger, Senior Associate, with the firm’s Phoenix production office represented the borrower, Parkland Development. The construction financing was provided by a regional bank and features a three-year  loan term and interest only payments.

According to Gantry’s Adam Parker, “Parkland Development is focused on delivering a high-quality retail environment at Park 10.  For our role in the process, Chad and I surveyed the full spectrum of construction lenders and presented multiple financing options.  We understood the Sponsor’s priorities and tailored a loan structure that worked for their needs.  For example, the Sponsor is already working on Phase 5, and they wanted the ability to complete the horizontal development for Phase 5 while they are completing the horizontal development for Phase 4. Gantry was able to secure a loan option that not only provided $9 million for the construction of Phase 4, but we were able to convince the lender to provide a separate construction facility to fund horizontal improvements for the next phase.”