Gantry’s Irvine office recently secured $28.7 million in financing for two separate properties – a multifamily asset in California and a self-storage property in Arizona. These loans, provided by different lenders, were tailored to meet the unique needs of each property.
Principal Andy Bratt and associate Sean Kuang successfully secured the following loans on behalf of their clients:
StorEz Self Storage/$18.3 million – This newly constructed facility located at 3030 N. 73rd St. in Scottsdale, AZ offers 797 units and was financed with a five-year permanent loan from one of Gantry’s insurance companies. The loan features a fixed rate with an initial interest only period followed by 25-year amortization.
Golden Valley Luxury Apartments/$10.4 Million – This transaction involved the acquisition of 80 units within a luxury multifamily community located at 600 Hosking Avenue in Bakersfield, CA controlled by an HOA (Homeowners Association). The financing for this deal came from a balance sheet life company and includes attractive terms such as fixed rate pricing over its full term.
According to Bratt, both transactions required creative solutions that ultimately met sponsor investment goals while also securing favorable rates and terms.”
