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California  + Bay Area  + Finance  | 

Industrial Duo in Santa Clara County Scores $11M Refi

Commercial mortgage banking firm Gantry secured an $11-million permanent loan to refinance two industrial properties located in Santa Clara and San Jose. The properties, a single-tenant industrial building at 1941 Ringwood Ave. in San Jose and a flex-industrial building at 3175 De La Cruz Blvd. in Santa Clara, total 78,250 square feet.

Director Murphy Osborne and associate Alex Poulos with Gantry’s San Francisco production office represented the borrower, a private real estate investor. The 10-year, fixed rate, cross-collateralized loan was secured from one of Gantry’s correspondent life company lenders. Terms included prepayment flexibility and 25-year amortization.

Osborne said, “Performing industrial property in the greater Bay Area region remains a targeted asset class for our insurance company lenders. In this instance, cross collateralizing a highly stable single tenant asset with a multi-tenant property allowed us to achieve an optimized blended rate on behalf of our client from one of our top correspondents.”

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Gantry's Osborne

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing