Gantry, a real estate firm based in San Francisco, recently secured a $21.4-million construction takeout loan for a two-building creative office project located at 3520-3524 & 3512-3516 Schaefer St. in Culver City. The borrower is a private real estate investment and development firm based in West Los Angeles.
The financing was provided by one of Gantry’s correspondent insurance company lenders and features an attractive fixed rate with an initial term of three years and amortization over 30 years.
The new Class A buildings cover approximately 35,000 rentable square feet and boast modern features such as high ceilings, large windows, open floor plans, and landscaped outdoor spaces with gathering areas.
According to Principal Tony Kaufmann who represented the borrower along with associate Andrew Ferguson from Gantry’s San Francisco production office: “Despite challenges faced by the current market cycle for offices overall, there are still properties that continue to thrive due to their quality. Our correspondents’ insurance companies offer access to fixed-rate financing for these types of successful office properties.”
