Gantry Secures Financing for Phoenix-Area Warehouses

Gantry secured a total of $39.5 million in permanent loans for the owner of two Metro Phoenix industrial assets, Parc Germann Industrial Park and Ray Industrial Park.  The Parc Germann property encompasses 225,000 square feet in two recently acquired, 100% occupied, Class A industrial buildings located at 2215 & 2225 East Germann Road (photo) in Chandler. Ray Industrial Park offers 139,000 square feet in one building, 100% occupied in a multitenant format located at 7535 East Ray Road in Mesa, also an East Valley suburb.

Gantry’s Tony Kaufmann and Joe Foley represented the undisclosed borrower. The fixed-rate loan was secured by an insurance company lender. The individual non-recourse loans featured interest-only payments and had no ongoing structure or operating covenants. The rate lock on both loans allowed the borrower to catch a dip in treasuries before they rapidly increased.