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Gantry Secures Second Loan for Sponsor Assembling Carlsbad Office Portfolio
Gantry recently secured a $13.25-million permanent loan for the acquisition of Carlsbad Pacific Center office campus, a three-building, 130,019-square-foot, multi-tenant office campus located at 701, 703 and 705 Palomar Airport Rd. in Carlsbad. The loan was the second office acquisition loan secured by Gantry for an experienced sponsor assembling a portfolio of quality office space in this ocean fronting submarket, following an $11-permanent loan for 902 and 1903 Wright Pl.
Principal Andy Bratt and associate Sean Kuang with Gantry’s Irvine production office represented the borrower for each loan, Strauss Investments. The seven-year, fixed rate, non-recourse loan for Carlsbad Pacific Center features partial term interest-only with an attractive fixed rate.
Bratt said, “The case for office continues to improve, and a growing number of lenders are returning to originations on viable properties in the asset class. The return to office trend continues to evolve, giving prime locations and quality environments a competitive advantage in today’s leasing climate.”
- ◦Financing
