Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $9 million loan to refinance a maturing loan on a suburban office building located at 20955 Pathfinder Road in Diamond Bar, a Los Angeles County suburb strategically located at the nexus of Los Angeles, Orange, San Bernardino, and Riverside Counties. The three-story, class B building encompasses approximately 65,000 square feet of rentable space and is 98% occupied by a range of professional tenants.

Gantry’s Topher Van Mourick, Senior Director, with the firm’s Irvine production office represented the borrower, a private real estate investor. The three-year, fixed rate loan was secured from one of Gantry’s correspondent life company lenders. Gantry will service the loan.

According to Gantry’s Van Mourick, “Gantry continues to successfully underwrite new office loans with our life company correspondents, by far the most challenging asset class in the current cycle. Each loan is an asset-by-asset exercise. For this well leased class B building, the real challenge was refinancing a performing existing loan resetting into today’s higher rate climate. Working with one of our top correspondents, we were able to underwrite a new three-year loan with a competitive fixed rate to not only retire the outstanding loan balance but also meet the client’s hopes of a no cash-in refinance for what they consider a legacy hold asset.”