Gantry, a real estate financing firm, has secured $108.3 million in structured debt to pay off the maturing construction loan for Ventana Residences. This Class A multifamily community consists of 193 units and is located at 99 Ocean Ave in San Francisco’s Outer Mission neighborhood. According to reports, this project is the first and largest one delivered through San Francisco’s HOME-SF program which offers incentives for including affordable housing by allowing increased density and zoning benefits.
The developer of Ventana Residences, Presidio Bay Ventures was represented by Gantry’s Principal Jeff Wilcox and associate Andrew Ferguson from their San Francisco office during this financing process. Despite navigating through a volatile rate climate in the fourth quarter of 2024, they were able to secure two loans from separate lenders.
The first position loan with a term of 10 years was provided by one of Gantry’s CMBS lending sources with attractive features such as full-term interest only payments and non-recourse terms. The mezzanine debt was obtained from an institutional investment manager also for a term of ten years but with favorable terms that align well with their long-term plans.
This successful funding marks another milestone achieved by Gantry as they continue to provide innovative solutions for real estate financing needs.
