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Gantry Arranges $56M Acquisition Loan for Monrovia Retail
(Updated with additional information)
Gantry arranged a $55.9-million purchase money permanent loan to acquire the Huntington Oaks retail center located at 500-600 W. Huntington Dr. in Monrovia. The acquisition encompasses 251,000 square feet of leasable space, with major tenants including a mix of national retailers, restaurants and services.
Principals George Mitsanas and Braden Turnbull and associate Austin Ridge with Gantry’s El Segundo production office represented the borrower, a private real estate investor. The five-year, fixed-rate loan was secured through one of Gantry’s correspondent insurance lenders, underwritten to full-term interest-only.
Mitsanas said, “There are many experienced sponsors and investors with significant equity on hand to transact in this phase of the cycle, and we expect to see the pace of investment sales increase into 2025. Retail has remained a strong performer post-COVID. That has not gone unnoticed by our extensive roster of lenders, who continue to prioritize allocations to power center, grocery-anchored and neighborhood retail assets in both urban and suburban markets.”
Hanley Investment Group represented the seller, a private investor based in Newport Beach. The Los Angeles-based buyer represented themselves
