Silicon Valley Light Industrial Refinanced for $10M

Gantry secured a $9.65-million permanent loan to refinance maturing debt from the acquisition of a two-building, infill light industrial property located at 2290 De La Cruz Blvd in Santa Clara. Principal Tony Kaufmann and associate Jake Davis with Gantry’s San Francisco production office represented the borrower, a private real estate investor.

The 10-year, fixed rate, non-recourse loan was secured from one of Gantry’s correspondent insurance company lenders with 30-year amortization. Gantry will service the loan for the lender.

The property is 100%-leased in a long-term agreement to a national auto collision repair business. The property totals 37,600 square feet across two buildings, including a recently constructed 11,500-square-foot building addition.

Kaufmann said, “This is one of those unique properties in Silicon Valley, where similar building inventory available to non-tech or AI-related tenants is at a premium due to voracious tech user demand. After reviewing various options for the site, including redevelopment for tech-related uses, an experienced sponsor saw the advantage of land banking the asset by expanding and renovating the existing light industrial buildings for non-tech uses.”

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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 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).

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