Gantry, a leading commercial real estate finance firm, has successfully secured $21.6 million in construction-to-permanent financing for a new retail development project in the Studio City submarket of Los Angeles. The 33,700-square-foot grocery-anchored property located at 11265-11321 Ventura Blvd will be developed by a private real estate entity.
The borrower was represented by Gantry’s team of principals Braden Turnbull and George Mitsanas along with associate Austin Ridge from their El Segundo office. The five-year loan was provided by one of Gantry’s correspondent lenders and offers an attractive fixed rate with interest-only terms throughout the duration of the loan.
According to Turnbull, this transaction is the result of two years’ worth of collaboration between Gantry and their correspondent lender to create a successful C2P program that met their investment committee’s approval. This marks the first loan under this program for both parties involved.
This news highlights yet another success story for Gantry as they continue to provide expert financial solutions for commercial real estate projects across various markets nationwide.
