Gantry, a leading commercial real estate finance firm, has successfully secured a $10.7-million construction loan for the development of North Grove Townhomes in Ontario. The project will consist of 28 townhomes spread across four buildings and is located at 1411 North Grove Ave.
Led by Senior Director Tom Grzebinski and Directors Stefan Malmlund and Zach Wagner from Gantry’s Irvine and Upstate New York offices, the borrower – a private real estate investor – was able to secure this two-year construction loan through one of Gantry’s qualified lenders. The financing features interest-only terms with two six-month extension options.
According to Grzebinski, “This successful collaboration between our Upstate New York office and one of our top producers in Southern California showcases Gantry’s ability to provide local expertise while leveraging our extensive network of lenders.” After reviewing approximately 60 potential lenders including banks and debt funds, the selected lender offered maximum proceeds along with flexibility for execution as one of Gantry’s preferred debt fund construction partners.
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