Gantry has successfully secured a total of $23.4 million in senior financing and preferred equity to fund the acquisition of DFW Corporate Park, a flex-industrial park strategically located between Dallas and Fort Worth in the suburban Metroplex. The property was purchased by GPR Ventures for $26 million.
The 22-building, 211,385-square-foot complex is situated at 2100 N Highway 360 in Grand Prairie and offers a diverse range of rear-loaded warehouse spaces, modern office suites, and street-fronting retail spaces available for lease.
The first position loan comprises a five-year fixed-rate permanent loan obtained through one of Gantry’s top life company correspondents. Additionally, Gantry facilitated the placement of preferred equity commitment from a national private equity investment fund.
According to Braden Turnbull from Gantry,”This acquisition presents an opportunity for value-add growth but securing financing proved challenging due to market rate volatility causing banks and traditional lenders to pull back.”
