Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $22 million cross-collateralized permanent loan to refinance maturing debt for a Southern California industrial portfolio totaling 315,500 square feet. Four buildings are located in Redlands, a strategic location in the Inland Empire East submarket. The loan also includes an additional building located in Rancho Dominguez, CA, an unincorporated submarket within LA’s South Bay region.

Gantry’s Stephan Coste, Senior Director, and Nick Severson, Associate, with the firm’s Irvine production office represented the borrower, a private real estate investor. The 10-year, fixed rate, non-recourse loan was provided by a private capital lender and includes full term interest only and prepayment flexibility. Gantry will service the loan for the lender.

According to Gantry’s Stephan Coste, “The commercial real estate debt markets remain active and accessible, and industrial alongside multifamily are the top allocations for almost all lenders in the current cycle. In this climate, Gantry can source commercial real estate debt and equity financing from a vetted roster of more than 150 sources, allowing us to tailor debt solutions that can best meet client investment goals. For this assignment, our goal was to maximize proceeds and optimize a blended rate for the permanent refinancing of a portfolio of legacy-hold industrial assets located in key Southern California submarkets. After reviewing competitive options, our team secured a cross-collateralized non-recourse structure for the five-building portfolio from a private capital lender that features full-term interest only to enhance cashflows. We were also able include prepayment flexibility.”