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Gantry Secures $7M for Portland MSA Industrial Building
Gantry has secured a $7.2 million permanent loan for the acquisition of a 60,405-square-foot single-tenant warehouse building.
Located in the Franklin Business Park in Tualatin, Oregon, the building is strategically located in a high-tech manufacturing cluster southwest of downtown Portland. The property was acquired vacant with a lease for the entire building in place for long-term a single tenant. The property includes 20,521 square feet of office space.
Gantry’s Blake Hering, Principal, and Keegan Bridges, Associate, with the firm’s Portland office, represented the borrower, a private real estate investor. The 12-year loan was secured from one of Gantry’s correspondent insurance company lenders, with terms including an attractive fixed rate, 25-year amortization, and non-recourse provisions.
“In addition to pre-leasing the facility before the transaction closed, the loan also recognized the strength of the sponsor’s track record and the benefits of an industrial park location that had been entirely developed by this same developer,” said Hering.
