Gantry has successfully arranged a $27.8 million permanent loan to refinance the R3 by CLG apartment building located at 4091 Redwood Ave in Marina del Rey. The 85-unit building was originally built in 2016.
The loan was secured by Principal Andy Brat and associate Sean Kuang from Gantry’s Irvine production office on behalf of the borrower. After considering various options, they were able to secure a five-year non-recourse loan with full-term interest only payments and prepayment penalty flexibility through one of Gantry’s correspondent life company lenders. This creative approach resulted in significantly more proceeds for the borrower compared to other capital sources.
Bratt commented, “With an experienced sponsor leading this high-quality asset like R3, our team thoroughly evaluated financing options including life companies, CMBS, banks, debt funds and agencies before identifying a solution that met our client’s goals for both asset management and long-term investment plans.”
This transaction showcases Gantry’s expertise in securing optimal financing solutions for their clients through strategic market analysis and creative thinking.
