Gantry, a leading commercial real estate mortgage banking firm, has successfully secured a $12.8-million permanent loan for the recapitalization of a 99,000-square-foot grocery-anchored retail property in Riverside. The property is located at 7200 Arlington Ave and features anchor tenants such as Stater Bros, AutoZone and Ross.
The financing was arranged by Gantry’s principals Braden Turnbull and George Mitsanas along with associate Austin Ridge from their Los Angeles office. The borrower is a private real estate entity seeking to optimize their investment through this recapitalization. The five-year loan was provided by one of Gantry’s correspondent life company lenders and offers an attractive fixed-rate with interest-only payments for the duration of the term.
According to Ridge, “The recent redevelopment of this center has attracted top-tier national and regional retailers resulting in high-performing traffic.” This successful stabilization prompted an equity partner’s desire for redemption which led to this refinancing deal.
This significant transaction highlights Gantry’s expertise in securing competitive financing options for commercial properties across various markets without compromising on pre-payment flexibility or long-term stability.
