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1/20/22
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A seven-property California real estate portfolio owned by a private investor was just refinanced with seven new permanent loans totaling $223 mil arranged by George Mitsanas of Gantry. The portfolio is comprised of three multifamily properties totaling 1,140 units, one single-tenant retail property, one self-storage property comprised of 792 storage units and 129 RV vehicle storage spaces, and two unique ground lease financing transactions for land holdings located in northern and southern California.
Park Regency Apartments, Walnut Creek |
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The loans were placed through four correspondent life insurance companies at very competitive interest rates with long term maturities. Gantry will be the loan servicer for each of the seven loans.
The portfolio consists of the following assets:
• Park Regency Apartments: 892-unit luxury apartment complex located in Walnut Creek, CA.
• Concord Square Apartments: 167-unit apartment building located in Reseda, CA.
• NMS Warner Center (Purchase Money): 81-unit apartment building located in downtown Warner Center.
• Sand Canyon Self Storage: Self-storage facility in Santa Clarita, CA totaling 792 storage units and 129 RV vehicle storage spaces.
• Gelson’s Laguna Beach: Retail property 100% leased to Gelson’s in Laguna Beach, CA located directly across the street from the Montage Laguna Beach five-star resort.
• Lowe’s Ground Lease: Ground lease financing for 14.9 acres of land in Rancho Cucamonga; the 135k sf building on the property is 100% leased to Lowe’s.
• Century City Cooling Plant: The collateral is the fee interest of an L-shaped, 1.64-acre parcel of land located within the master-planned area of Century City in Los Angeles.
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