Gantry successfully arranged $39.5 million in permanent loans for the owner of two industrial properties in Metro Phoenix, namely Parc Germann Industrial Park and Ray Industrial Park. The borrower, whose identity remains undisclosed, was represented by Gantry’s Tony Kaufmann and Joe Foley.
Parc Germann is a recently acquired property consisting of two Class A industrial buildings totaling 225,000 square feet on East Germann Road in Chandler. Both buildings are fully occupied at the time of loan procurement. Meanwhile, Ray Industrial Park is a multitenant facility located at 7535 East Ray Road in Mesa with one building offering 139,000 square feet of space. It is also fully occupied and situated within an East Valley suburb.
The fixed-rate loans were secured from an insurance company lender without any personal guarantees from the borrower. They feature interest-only payments and do not have any ongoing structure or operating covenants attached to them. Additionally, Gantry was able to secure favorable rates for both loans by locking them before treasury rates increased significantly.
