Gantry, a commercial mortgage banking firm, has secured a $10 million loan to refinance a three-building flex industrial complex in Corte Madera, California. The 38,000-square-foot property is located on Koch Road and fronts Highway 101 – Marin County’s only north/south freeway – and is fully leased by two long-term tenants. Tony Kaufmann and Alex Poulos of Gantry obtained the financing from one of their exclusive correspondent life insurance company lenders at an advantageous interest rate to replace CMBS debt.
Kaufmann noted that life insurance companies are actively pursuing their 2023 allocation targets which remain largely unchanged from 2022; they seek high quality assets with experienced sponsorship that demonstrate market relevancy over time. He added that many banks have either paused or tightened credit standards while the certainty of execution provided by Gantry’s lenders sets them apart from competitors in this space.
