Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $25.5 million permanent loan to provide funds for the acquisition of Power Commerce Center located at 3380 S Power Rd in Gilbert, an East Valley suburb of Phoenix. The 14.2-acre master-planned industrial park was delivered in 2023 and features 11-buildings offering 20-units encompassing 146,000 rentable square feet. The property includes fenced outdoor yard spaces for each building. 

Gantry’s Patrick Barkley, Principal, Chad Metzger, Senior Associate, and Andrew Christopherson, Associate, with the firm’s Phoenix production office represented the borrower, a private real estate investor. The fixed rate loan came from one of Gantry’s correspondent life company lenders with 30-year amortization. Gantry will service the loan.

According to Gantry’s Patrick Barkley, “Our roster of life company correspondents continues to favor lending on permanent debt for flex-industrial properties. Our team works closely with these correspondents to underwrite the nuances of different use type, including loans for small-bay, multi-tenant assets like Power Commerce Park. This master planned park offered a unique challenge because of the property’s valuable space dedicated to fenced yards serving each building. The strong operating metrics and tenant lineup did ultimately attract several of our life companies. We were able to effectively communicate the full dual-use value of the park with yards to an experienced correspondent comfortable with this high-quality asset. The results optimized a low leverage request for a permanent fixed rate amortizing loan, setting up Power Commerce Park for a stable, long-term, legacy hold.”