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Fremont Industrial Scores $12M Refi
Gantry placed a $12.2-million permanent loan to refinance a 71,500-square-foot industrial building located at 45541-45581 Northport Loop West in Fremont. The building features 10-bay doors with 18-foot clear heights and is 100% occupied by two long-term tenants.
Principal Tony Kaufmann and associates Alex Poulos and Joe Foley with Gantry’s San Francisco production office represented the borrower, a private real estate investor. The long-term fixed rate loan was provided by one of Gantry’s exclusive correspondent life company lenders and is optimized for prepayment flexibility.
Kaufmann said, “We continue to see a wide range of attractive permanent loan programs to refinance from our correspondent life company lenders. The Northport Loop building has strong performance history with two long-term tenants and an experienced sponsor that owns the asset at a conservative leverage point. This allowed us to review options and ultimately secure a permanent loan from one of our top correspondent lenders at an attractive rate for the cycle that featured extensive prepayment flexibility, a client priority.”
- ◦Financing
