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September 23, 2023
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FINANCING NEWS
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East Bay Industrial Park Secures $19.4 Mil Refi

6/06/23

Central Avenue Center, a five-building, 150k sf multi-tenant industrial park in the East Bay city of Richmond, was refinanced with a $19.4 mil permanent loan. It was used to take out a maturing CMBS loan.

The park serves a diverse but stable base of businesses at a Bay Area location strategically positioned with direct access to the regionís 80 and 580 freeways. Although considered a Class C property due to its age, the park is one of the few properties in this dynamic East Bay region formatted to support smaller users.

Gantryís Tony Kaufmann and Alex Poulos arranged the loan on behalf of the borrower, a private real estate investor. The 10-year loan, provided by a life company lender, features an attractive fixed rate and terms.





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