Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured two loans totaling $85 million to refinance a portfolio of medical office properties serving the Torrance Memorial Medical Center’s physician, specialist, and service provider communities. The financed properties include the 10-building, 381,249-square-foot Skypark Medical and Office Center campus located on 22 acres along Hawthorne Blvd. at Skypark Drive and a nearby 39,611-square-foot medical office building located at 3640 Lomita Boulevard. The properties are positioned adjacent to Torrance Memorial Medical Center, a Cedars Sinai affiliate and the #1 hospital serving the South Bay Region. 

Gantry’s George Mitsanas, Principal, Braden Turnbull, Principal, and Alicia Sabanero, Associate, with the firm’s Los Angeles (El Segundo) production office represented the borrower, a private real estate investor. The pair of 10-year, fixed rate loans were secured through one of Gantry’s correspondent insurance company lenders and feature an introductory interest-only period, transitioning to 30-year amortization.

Gantry has now secured a total of $113 million of recent permanent financings for medical office property in and around Torrance Memorial Hospital, including a $28 million loan for a 3-story, 65,000-square-foot medical office building in Q1 2024. 

According to Gantry’s Braden Turnbull, “Strategically positioned medical office remains one of the top performing asset classes of the current market cycle. This $85 million loan package is for a portfolio of quality real estate adjacent to Torrance Memorial Medical Center, one of the preeminent healthcare facilities in the greater Los Angeles Region. Gantry does its best work when advising clients on financing strategies for their holistic portfolio needs, leveraging our ability to identify value through an optimized, blended approach to debt strategy across a diverse group of assets. This allows us to identify the maximum dollars available for specific assets from the best source at the right time and terms. We worked diligently to align this client’s plans for a long-term, legacy hold with relevant debt funding from a top tier insurance company that retired existing debt, funds future tenant improvements and leasing costs, and delivers pent up value from the assets for redeployment into other areas of their business. Gantry is always proud to play this role.”