Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a low leverage $12 million permanent loan to refinance maturing debt for Rock River Plaza located in Moline, Ill. The 389,375-square-foot retail power center is anchored by Walmart and Lowe’s with additional national tenants including Marshalls, Five Guys, Chick-fil-A, Applebee’s, AT&T, and others. The center serves the Quad Cities trade area from a strategic location fronting John Deere Road with ready access to I-74.

Gantry’s Joe Monteleone, Principal, and Rulin Dai, Associate, with the firm’s St. Louis production office represented the borrower, a private real estate investor. The five-year, fixed rate, non-recourse permanent loan was secured through a CMBS lender from Gantry’s extensive roster of vetted lenders with full-term interest only.

According to Gantry’s Joe Monteleone, “The full spectrum of relevant sources from Gantry’s extensive roster of vetted lenders remains bullish on permanent debt allocations to quality neighborhood grocery and regional power center retail property. For this assignment, Rock River Plaza’s strong, consistent historic performance from a roster of top-tier credit tenants aligned with engaged, experienced sponsorship seeking a low leverage loan. These characteristics allowed us to review options and ultimately identify a non-recourse CMBS execution with an attractive fixed rate and full term interest only to maximize cash flows.”