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11/11/24
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GANTRY -- Gantry’s George Mitsanas, Braden Turnbull and Austin Ridge secured a $55.9 mil purchase money permanent loan for the acquisition of the Huntington Oaks retail center located at 500-600 W. Huntington Dr in the city of Monrovia, in the San Gabriel Valley. The acquisition encompasses 251k sf of leasable space, with major tenants including a mix of national retailers, restaurants, and services. The five-year, fixed rate loan was secured through an insurance lender, underwritten to full term interest-only. This fixed interest rate loan offers tremendous flexibility, structure and will be serviced by Gantry.
CBRE CAPITAL MARKETS -- James Bach, Connor Lemley, Regina Wang and Griffin Walker with CBRE Capital Markets’ Debt & Structured Finance team arranged a $22.8 mil refinance loan for the Trailhead at the Preserve Apartment Complex located at 1970 NE Fuson Rd, Bremerton, WA. The 109-unit apartment complex offers modern studio, one- and two-bedroom apartment homes, with unique amenities including private access to nature trails at the Illahee Preserve. The property, built in May 2024, is conveniently located in Bremerton and a ferry ride away from Seattle. The borrower is Sage Homes Northwest The full-term, interest-only bridge loan was funded through a prominent debt fund lender to refinance their existing construction loan.
JLL CAPITAL MARKETS -- Alex Witt, Chris Collins and Daniel Pinkus with JLL Capital Markets arranged $12.25 mil in portfolio financing for Equity Oak Ventures’ four-building flex industrial, R&D and office portfolio in San Diego County that was purchased all cash in May 2023. The fully leased portfolio includes a 42.9k sf, three-building flex industrial and office campus in Rancho Bernardo and a 44.8k sf R&D and cGMP facility in the Carlsbad Research Center, repositioned post-acquisition with long-term leases. The a new loan is at a fixed-rate for three years.
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