Gantry Secures $75M for Redondo Beach Mixed-Use Development

Gantry, a recently rebranded commercial mortgage investment bank, secured a $75-million construction-to-permanent loan to develop a 115-unit multifamily project with street front retail at PCH and Palos Verdes Blvd. in Redondo Beach, CA.

George Mitsanas and Amit Tyagi from Gantry’s L.A. office arranged the financing for an unnamed borrower with a correspondent lender. The loan holds a fixed rate for its 12-year term, five of which are interest-only.

According to Mitsanas, “Sponsorship is a private, family-owned operation that has been developing in California for over 50 years. The transaction was structured to meet the unique needs of sponsorship and the City of Redondo Beach.”

Despite the new identity, the Gantry brand has a 30-year history of tailoring financing for clients with a roster of pension, life company and banking sources. Notably, Gantry services most of its loans through term, and currently services a $13 billion portfolio.

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