An $11.3-million permanent loan was secured by Gantry to refinance a six story, 83,557-square-foot office tower at 2855 Telegraph Ave. in Berkeley. The building, originally constructed during the 1960s and now home to more than 35 tenants including professional services, medical offices and small businesses was financed with a 30 year fixed rate loan provided by one of Gantry’s correspondent life company lenders.
Director Tony Kaufman and associate Alex Poulos were able to secure the new loan on behalf of an undisclosed borrower due to articulating the right story for financing office properties in today’s market cycle; life company lenders are willing consider conservative opportunities for buildings with diversified rent rolls that have customizable multi-tenant floorplates as well as stable property performance before and during the pandemic period.
The strategic location near a major university and regional hospital combined with active leasing/management teams taking great care of asset allowed them work with one premier life company correspondent resulting in locking favorable rate for long term hold
