LOS ANGELES — Gantry has secured $223 million in permanent financing for seven properties in California. The portfolio includes three multi-family properties totaling 1,140 units, a single-tenant commercial property, a self-storage property, and two unique land lease financing transactions for land properties in Northern and Southern California.
George Mitsanas of Gantry’s Los Angeles office identified and structured the financing package on behalf of the borrower, a private investor. The loans were placed through four of Gantry’s correspondent life insurance companies at very competitive interest rates with long-term maturities. Gantry will be the loan manager for each of the seven loans.
The portfolio includes:
- Park Regency Apartments, an 892-unit apartment complex in Walnut Creek
- Concord Square Apartments, a 167 apartment building in Reseda
- NMS Warner Center, an 81 apartment building in downtown Warner Center
- Sand Canyon Self Storage, a self-storage facility in Santa Clarita with 792 storage units and 129 RV storage spaces
- Gelson’s Laguna Beach, a commercial building in Laguna Beach fully occupied by Gelson’s
- A ground lease for a 135,000 square foot Lowe’s Home Improvement warehouse, located on 14.9 acres in Rancho Cucamonga
- Century City Cooling Plant, the security is the free interest of a 1.64 acre L-shaped parcel of land located in the planned area of Century City in Los Angeles.