Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $10.5 million joint venture equity commitment for an industrial development in Reno’s North Valley submarket. Located at 9865 North Virginia St., the 11-acre site is planned for a 180,000-square-foot multi-tenant industrial building with direct access to Highway 395, a regional logistics corridor. Planned for a Q1 2025 completion, the facility will feature 32-foot clear heights, four 14-foot x 16-foot grade-level doors, and other class-A infrastructure serving four individual spaces tailored for warehouse tenants.

Gantry’s Tim Storey, Principal, Chad Metzger, Senior Associate, and Casey Kupferberg, Associate, with the firm’s Phoenix production office secured the funding on behalf of the development sponsor. The preferred equity agreement aligns sponsor and equity partner in a performance driven investment structure, with defined risk/reward return splits.

According to Gantry Principal Tim Storey, “In the current cycle where the cost of real estate financing has required additional equity to align project financing with debt service coverage requirements, there is strong demand for equity partners from sponsors of new development and existing asset investments. The diversity of return targets and investment criteria from these sources can vary widely from asset class to asset class or target different regions across the country. Finding the right partner for a specific project requires a patient due diligence process. Gantry maintains a vetted roster of equity investors, including institutional funds, family offices, and other private sources that we can align with a client to secure joint venture equity funding to meet a market-ready business plan.”