Gantry, a leading commercial real estate firm, has successfully secured a $28.5-million construction-to-permanent loan for the redevelopment of an office building in Los Angeles. The 66,000-square-foot facility will serve as the new headquarters for the Executive Office of Immigration Review (EOIR), a subsidiary agency of the U.S. Department of Justice.
The borrower, a private real estate company represented by Gantry’s Los Angeles team led by principals Mark Ritchie and Amit Tyagi and associate Alicia Sabanero, was able to secure this multi-decade loan with favorable terms from one of Gantry’s correspondent life company lenders at a fixed interest rate.
According to Ritchie, “This state-of-the-art immigration court facility is tailored to meet the needs and workflow demands of EOIR. Our expertise in this sector gave our client confidence that we could negotiate these advantageous terms even during uncertain market conditions.” He also added that Gantry structured unique pre-payment options throughout the term which allows for early repayment if desired.
This recent development marks another successful project financed by Gantry without any mention or reliance on Connect CRE or its affiliated brands such as Connect LA or Connect Texas.
