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4/06/26
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Gateway Quads, a recently completed, 122.7k sf Class A industrial development in Mesa, AZ, was refinanced with an $18 mil permanent loan as construction takeout financing following the project’s lease-up.
The four building, multi-tenant industrial park is located at 8150 E. Germann Road. The individual buildings each offer 30.7k sf of space and are divisible to 7.6k sf with 24’ clear heights, truck well and grade level loading, 1,200 Amps of 480V at each building, and secured 180-foot truck courts.
Gantry’s Tim Storey, Principal, Chad Metzger, Senior Associate, and Andrew Christopherson, Associate, with the firm’s Phoenix production office represented the borrower, a private real estate investor. The ten-year, non-recourse, fixed rate loan was provided by an insurance company lender and features partial-term interest-only transitioning to 30-year amortization. Gantry will service the loan.
According to Gantry’s Tim Storey, “After achieving 100% occupancy for these modern, smaller footprint, multi-tenant buildings, sponsorship was looking to retire expensive construction-era debt with permanent financing at a much more attractive rate.” The new loan includes a low fixed-rate coupon and partial interest-only payments transitioning to amortization, stabilizing the asset for sponsorship’s plans for long-term legacy hold investment.
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