Gantry Secures Loans For Refinancing of California Facilities
Gantry has secured a total of $17.6 million in permanent loans for the refinancing of two facilities in the Bay Area of California: $9.5 million for SAF Keep San Ramon and $8.1 million for SAF Keep Hayward. The two properties have a combined total of 244,605 rentable square feet of space. Gantry’s Principal Tom Dao and associate Erinn Cooke secured the financing on behalf of the borrower, a private real estate entity. The 10-year loans were sourced from one of Gantry’s correspondent life company lenders and feature an attractive fixed rate locked at application with 30-year amortization.
“We locked in the rates when the U.S. Treasury indices were in the in the low- to mid-3 percent range and closed six months later, when the indices had increased by nearly 1 percent,” Dao said. “Once the rates were locked, rate risk was off the table, and we focused on loan closing.”
More Content
Popular Posts
The self storage industry is in a precarious...
The REITs new pricing strategy – lowering...
With the approval of both companies’...
There are an estimated 700,000 hotels in the...
Boat and RV storage has morphed and...
In a booming economy, expendable income...
It’s said that necessity is the mother of...
National Storage Affiliates Trust (NSA), the...
Recent Posts
In the annals of human history, the concept...
As children, most of us played “follow the...
Imagine preparing to move and needing to...
The first contemporary self-storage...
The self-storage industry may have been slow...
nodaFi is a modern computerized maintenance...
With construction costs, interest rates, and...
For nearly a year now, the “hot talk of the...