Gantry Arranges Refi for W. Phoenix Investor

Gantry secured a $29.2 million permanent loan to refinance the Goodyear Centerpointe retail power center located at 15277-15475 W. McDowell Road in the city of Goodyear. The 320,000-square-foot power center features an inline anchor building, two out-parcel buildings and a series of free-standing pad sites. Major tenants include Conn’s Appliances, EOS Fitness, Urban Air, Hobby Lobby, Turner’s Outdoorsman, Goodwill Industries and a wide range of casual restaurants, fast food, and professional services tenants including optometry and beauty.

Gantry’s Braden Turnbull, Patrick Barkley, Chad Metzger, and Alicia Sabanero, with the firm’s Phoenix and Los Angeles production offices, represented the borrower, the Haagen Company. The 20-year, fixed-rate loan was secured through one of Gantry’s life insurance company relationships, with terms including 20-year amortization and a prepayment stepdown after 10 years.

According to Gantry’s Patrick Barkley, “Phoenix and the West Valley suburbs continue to offer strong fundamentals for retail performance. Subsequently, a diverse range of lenders continue to target allocations to the asset class throughout Metro Phoenix.”