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1/06/25
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A Bay Area-based investor secured $39.5 mil in permanent loans on two Metro Phoenix industrial assets, Parc Germann Industrial Park and Ray Industrial Park.
The Parc Germann property encompasses 225k sf in two recently acquired, 100% occupied, Class A industrial buildings located at 2215 and 2225 East Germann Rd in Chandler, an East Valley Metro Phoenix suburb. Ray Industrial Park offers 139k sf in one building, 100% occupied in a multi-tenant format located at 7535 East Ray Rd in Mesa, also an East Valley suburb.
Gantry’s Tony Kaufmann and Joe Foley arranged the loans through an insurance company lender. The non-recourse loans feature interest-only payments and have no ongoing structure or operating covenants. The rate lock on both loans allowed the borrower to catch a dip in treasuries before they rapidly increased.
According to Gantry’s Tony Kaufmann, “We do our best work for clients when we can provide holistic portfolio counsel focused on optimizing their debt and equity structures across a full set of holdings.
According to Kaufmann, both refinancings were for opportunistic acquisitions with existing higher rate financing in place. By underwriting permanent loans at fixed rates offering at least some interest-only, a pending maturity was retired, and a standing acquisition credit line replenished.
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