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Gantry Arranges Refi of Warner Center Offices
Gantry arranged a $12.7-million permanent loan to refinance the 93,619-square-foot Warner Center Business Park located in the Warner Center submarket at 5950 Canoga Ave. in Woodland Hills. Principal Tony Kaufmann and associate Alex Poulos with Gantry’s San Francisco production office represented the borrower, a private real estate investor.
The permanent, fixed-rate loan was secured from one of Gantry’s correspondent insurance company lenders with terms including prepayment flexibility and 25 years amortization. The six-story, multi-tenant property is nearly 90% leased, with a significant volume of leases occurring post-pandemic.
Kaufmann said, “By all accounts, financing any type of office is extremely challenging in the realities of the current cycle. However, we are getting better at identifying the exceptions to this rule. Gantry has dedicated considerable time and resources to developing a pipeline for bringing performing office properties with vested sponsorship to lenders that can underwrite to a property’s unique story and local market fundamentals.”
- ◦Financing
