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California  + Bay Area  + Finance  | 

Gantry Secures Permanent Loans for Apartments in Milpitas, Fremont

Gantr secured a total of $18.3 million in two permanent loans for the Spinnaker Pointe Apartments in Milpitas and Crossroads Village Apartments in Fremont.  The two fully stabilized properties total 540 units. 

The borrower, a private real estate investor, requested flexibility in the form of no prepayment fees after the first 12 months from loan closing with rates in the mid-5% range, non-recourse terms and a turnkey loan closing. Gantry principal Tom Dao and senior associate Erinn Cooke obtained the loans from one of Gantry’s correspondent life company lenders, and feature 30-year amortization.

Dao said, “It was a pleasure working on this assignment when the borrower’s objectives and the lender’s objectives were aligned. The lender wanted conservative underwriting, which the borrower was willing to agree to, and the borrower wanted ultimate flexibility, which the lender was willing to comply due to the limited underwriting risks.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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