Gantry, a leading commercial real estate firm, has successfully secured $17.6 million in permanent loans for two self-storage facilities located in the Bay Area. The financing was provided by a life company and totaled $9.5 million for SAF Keep San Ramon and $8.1 million for SAF Keep Hayward, encompassing 244,605 square feet of rentable space.
The borrower, a private real estate entity represented by Principal Tom Dao and associate Erinn Cooke from Gantry’s dedicated Self Storage Financing Team, received the 10-year loans from one of Gantry’s correspondent life company lenders at an attractive fixed rate that was locked at application with a 30-year amortization schedule.
According to Dao: “We were able to secure these rates when U.S Treasury indices were low- to mid-3%, but closed six months later when they had increased by nearly 1%. This allowed us to eliminate any potential rate risk and focus on finalizing the loan.”
