California + Bay Area + Finance | August 9, 2023

Permanent Loan Retires Construction Loan on Antioch Self-Storage

Gantry secured a $10.75-million permanent loan to retire construction financing for a new self-storage facility that is being managed by CubeSmart at 1790 Vineyard Dr. in the East Bay city of Antioch. The Class A facility, newly constructed in 2020, encompasses 130,000 square feet of climate controlled and drive-up units.

Principal Tom Dao of Gantry secured the loan on behalf of the borrower, a private real estate entity. The five-year loan met many of the borrower’s requested features, including interest-only payments followed by 30-year amortization schedule, flexible pre-payment structure, and priced at an attractive fixed rate.

Dao said, “Self-storage remains one of the preferred asset classes for a wide range of our lenders. After Gantry reviewed this financing assignment across our full roster of correspondents and affiliated lenders, we identified a suitable lender to underwrite at a superior rate and for proceed level that met our borrower’s requirement.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).

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