Prime Retail Portfolio
Los Angeles, CA
January 19, 2016
Gantry has arranged permanent financing in the amount of $97,000,000 for a portfolio of 15 retail, office, and mixed-use properties totaling 381,372 SF. All properties are located in stable, high demand, retail districts.
George Mitsanas, Principal, Peter Hillakas, Vice President, and Michelle Hsieh, Associate, of Gantry’s Los Angeles office, worked on behalf of the borrower to arrange the long-term, fixed-rate, non-recourse financing through a correspondent life insurance company. This arrangement succeeds a 39 property portfolio of similar assets from the same borrower that closed in December 2012. Proceeds totaled over $110 million for that loan.
“As we considered the various financing options for the portfolio, we selected a general account life company who has an excellent track record in dealing with portfolio loans. Having Gantry as the loan servicer was important to all involved. We intend on being by the borrower’s side throughout the term of the loans.”
-George Mitsanas, Principal of Gantry