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2/10/25
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A private investor refinanced two Bay Area industrial properties with a new permanent loan for $11 mil. The financing was arranged by Gantry.
One of the properties is a single-tenant industrial building at 1941 Ringwood Ave in San Jose. The other is a flex-industrial structure at 3175 De La Cruz Blvd in Santa Clara. Together, the properties total 78.3k sf of space.
Gantry’s Murphy Osborne and Alex Poulos arranged the 10-year, fixed rate, cross-collateralized loan. It was funded by a life company lender and features prepayment flexibility and 25-year amortization.
“Performing industrial property in the greater Bay Area region remains a targeted asset class for our insurance company lenders,” noted Osborne. “In this instance, cross collateralizing a highly stable single tenant asset with a multi-tenant property allowed us to achieve an optimized blended rate on behalf of our client from one of our top correspondents.”
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