VA San Diego
San Diego, CA
February 6, 2020
Gantry, the largest independent commercial mortgage banking firm in the U.S., has arranged $106,000,000 in construction-to-permanent financing for a 141,000-square-foot medical office building leased by the U.S. Veteran’s Administration in San Diego, CA.
Peter Hillakas, Senior Director, and George H. Mitsanas, Principal, in Gantry’s Los Angeles office, arranged the financing with a correspondent pension fund. Both the construction and permanent loans will be serviced by Gantry. Specific terms of the financing were not disclosed.
According to Mr. Hillakas, “Our combined construction financing and credit tenant lease expertise allowed us to structure a deal where the long-term financing risk was eliminated while still maintain flexibility during construction.”
Mr. Mitsanas added, “We provide financing for all product types in commercial real estate. Our comprehensive understanding of deal structures allows us to think outside of the typical CTL financing box.”