Gantry, a real estate financing company, has successfully secured $108.3 million in structured debt to pay off the maturing construction loan for Ventana Residences. This luxury multifamily community consists of 193 units and is located at 99 Ocean Ave in San Francisco’s Outer Mission neighborhood. According to reports, this project is the first and largest one delivered through the city’s HOME-SF program which offers incentives for including affordable housing units.
The team at Gantry’s San Francisco office, led by Principal Jeff Wilcox and associate Andrew Ferguson, represented Presidio Bay Ventures – the developer of Ventana Residences – in securing this new financing structure. Despite facing a volatile interest rate climate during the fourth quarter of 2024, they were able to secure two loans from different lenders.
One loan was provided by Gantry’s CMBS lending sources with a term of ten years featuring full-term interest-only payments and non-recourse terms. The other was mezzanine debt provided by an institutional investment manager also with a ten-year term but structured with favorable terms that align with their long-term goals.
This successful transaction highlights Gantry’s expertise in navigating complex financial situations while providing advantageous solutions for their clients’ needs.
