Gantry, a commercial mortgage banking firm, has secured a $19.4-million permanent loan to refinance an expiring CMBS loan on Central Avenue Center in Richmond. The five-building industrial park spans 150,000 square feet and houses numerous small businesses. Director Tony Kaufmann and associate Alex Poulos from Gantry’s San Francisco production office negotiated the financing for the private real estate investor borrower with one of Gantry’s correspondent life company lenders at an attractive fixed rate and terms over 10 years.
Kaufmann commented that “Industrial assets remain favored by Gantry’s exclusive roster of life company lenders despite this Class C property being older than most in its dynamic East Bay region due to its ability to support smaller users.”
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