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Gantry has arranged a $22 million permanent loan to refinance maturing debt on Chesterfield Commons, a large retail power center in Chesterfield, a suburb west of St. Louis. The loan recapitalizes the property at 100-290 THF Blvd and replaces existing debt coming due on the center.
The inline retail property totals approximately 750,000 square feet and is described as well stabilized. Chesterfield Commons is anchored by a lineup of national retailers including Walmart, Sam’s Club, Lowe’s, Best Buy, and Ross. Beyond the anchor stores, the center is occupied by around 40 additional tenants spanning restaurants and fast food concepts, beauty and fashion retailers, professional services, sporting goods, banking, home goods, health and wellness providers, and other retail uses.
The refinancing was led by Gantry’s St. Louis production office. Joe Monteleone, Principal, and Rulin Dai, Associate, represented the borrowing entity, which is identified as a private real estate investor. Their assignment focused on securing replacement financing as existing debt reached maturity.
The new mortgage is structured as a five-year, fixed-rate, non-recourse loan and is being provided by one of Gantry’s correspondent insurance company lenders. The facility features full-term interest-only payments, indicating there is no scheduled principal amortization during the loan term. Gantry will continue its role as servicer on behalf of the lender for the duration of the loan.
In commentary on the transaction, Monteleone noted that insurance company lenders are allocating a growing share of their lending capacity to retail properties. He cited particular focus on power centers such as Chesterfield Commons, as well as grocery-anchored centers and neighborhood retail assets. The Chesterfield refinancing exemplifies that lending thesis, pairing an institutional insurance capital source with a stabilized, large-format retail center.
The transaction underscores ongoing lender interest in well-leased retail power centers in established suburban trade areas. For the private investor that owns Chesterfield Commons, the new fixed-rate, non-recourse financing replaces maturing debt and is supported by a diverse rent roll anchored by several major national retailers and a broad mix of smaller tenants across multiple retail categories.
The post Gantry Secures $22M Refinance for Chesterfield Commons Retail Center Near St. Louis appeared first on CRE Market Beat.
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