Gantry, a real estate financing firm, recently secured a $14-million permanent loan to refinance the AAA Quality Self Storage facility in Tustin. The facility is located in Central Orange County and offers 827 units, including RV storage. It is situated in a well-established suburban market with limited competition and close proximity to new housing developments and major highways.
Braden Turnbull, Peter Welsh, and Austin Ridge from Gantry’s El Segundo and Irvine offices represented the borrower – a private real estate investor – during this transaction. The loan was placed with one of Gantry’s preferred conduit lenders for an initial lock-up period of 10 years at a fixed interest rate through CMBS financing. This structure also includes flexible prepayment options after the introductory period.
According to Turnbull: “Our client wanted to maximize their property’s cash flow potential due its prime location in an area with high barriers-to-entry that has strong long-term fundamentals.” As such, they were able secure competitive rates from top-tier conduit lenders who offered favorable terms like interest-only payments that aligns with our client’s long-term hold strategy.”
