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$108M Structured Debt Retires Construction Loan on San Francisco Apartments
Gantry has secured $108.3 million in structured debt to retire maturing construction financing for the Ventana Residences, a 193-unit, Class A multifamily community located at 99 Ocean Ave. in San Francisco’s Outer Mission neighborhood. Ventana is reportedly the first and largest project delivered through the city’s HOME-SF program, legislation that rewards affordability inclusion with increased density and zoning benefits.
Principal Jeff Wilcox and associate Andrew Ferguson with Gantry’s San Francisco production office represented Ventana’s developer, Presidio Bay Ventures. Financing for the new debt structure included two loans with separate lenders all while navigating the volatile rate climate of the fourth quarter of 2024.
The 10-year first position loan was provided by one of Gantry’s CMBS lending sources, featuring full term interest only and non-recourse terms. Mezzanine debt was provided by an institutional investment manager for a parallel 10-year term, structured with advantageous terms to accommodate the long-time horizon.
- ◦Financing




