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California  + San Diego  + Apartments  | 

Luxury Apartments in La Jolla Secure Loan Modification

Gantry secured a loan modification with improved loan terms reflecting property stabilization at the boutique luxury 801 Pearl class A apartments located at 801 Pearl St. in La Jolla Village. The modification assignment followed Gantry’s role securing construction financing in 2022 and construction take-out financing in 2024.

Principal George Mitsanas and director Doug Tisdale with Gantry’s Los Angeles (El Segundo) production office represented the borrower, a private real estate investor. The loan modification and reset three-year term was negotiated with one of Gantry’s correspondent insurance company lenders and features interest -only terms and prepayment flexibility. Gantry will service the loan.

Tisdale said, “Leveraging our strong relationship with our insurance company correspondent, Gantry crafted a loan modification that met the borrower’s objectives of using a loan paydown to lower the interest rate, given the stabilized nature of the asset while extending some of the original, favorable loan terms.”

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Inside The Story

Gantry's Tisdale

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
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