Gantry has successfully secured a $15.5-million permanent loan to recapitalize the Fullerton Brea Business Park, which was recently purchased in an all-cash transaction. The multi-tenant industrial park is located at 4010-4080 North Palm St in Fullerton and covers eight buildings with a total of 111,000 square feet of rentable space.
The loan was obtained by Gantry’s Irvine production office on behalf of the borrower, a private real estate investor. It is a five-year fixed rate loan provided by one of Gantry’s top life company correspondents and offers full term interest only payments as well as prepayment flexibility. The business park has undergone recent improvements to increase its value and provide additional opportunities for rental increases.
According to Principal Andy Bratt, “This experienced sponsor has an advanced investment strategy that includes strategic all-cash acquisitions. Our team saw this as an opportunity to assist them with their purchase through securing this fixed-rate loan from one of our premier life company correspondents.”
