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Gantry Secures $16M Loan for Portland FedEx Facility Acquisition
Gantry has secured a $16.25 million permanent loan for the acquisition of a Class-A warehouse facility 100% occupied by FedEx Ground. Gantry’s Tony Kaufmann, principal, and Joe Foley, associate, with the firm’s San Francisco production office, represented the borrower, a private real estate investor.
The long-term fixed-rate loan was secured from one of Gantry’s correspondent life company lenders and structured with a term that exceeds the tenant’s firm lease term. The loan is half-term interest only, followed by a 30-year amortization period.
The 212,000-square-foot, 126-door, cross-docked facility has been occupied by FedEx for decades and was fully redeveloped in 2015. “As the market begins to adapt to the current higher interest rate climate, we expect to see more borrowers with equity to deploy begin to engage and transact again,” said Kaufmann.
