Gantry, a leading commercial real estate finance firm, recently secured a $9.5-million permanent loan to refinance the Plaza North Shopping Center in Petaluma. The 101,000-square-foot center is home to popular retailers such as Lola’s Market and CVS Pharmacy.
The loan was obtained by Gantry’s San Francisco production office on behalf of a private limited partnership. It is a seven-year fixed-rate loan provided by one of Gantry’s correspondent life company lenders, replacing an expiring 2013 loan.
According to Principal Robert Slatt, “Neighborhood shopping centers and essential retail have proven resilient post-COVID with strong long-term fundamentals.” He also noted that their insurance company correspondents continue to be reliable sources for loans in the retail sector and trust Gantry to identify qualified sponsors and properties that meet their underwriting criteria.
This successful refinancing deal showcases Gantry’s expertise in securing financing for commercial properties amidst changing market conditions.
