Gantry has secured a $40-million permanent loan to retire maturing debt on two cross-collateralized industrial buildings in active Los Angeles industrial submarkets. Both recent vintage buildings are 100% occupied with different single-tenant occupiers.
Gantry principal George Mitsanas, senior director Bahman Mirhashemi and associate Keegan Bridges with the firm’s Los Angeles production office represented the borrower, a privately held real estate joint venture managed by Xebec, a private real estate investor. The five-year, fixed rate loan was secured from an insurance company lender and features full-term interest only.
The first property, located at 5370 Boyle Ave. in Vernon, is a 203,000-square-foot industrial building occupied by PODS. The second property, located at 10445 Glenoaks Blvd. in Pacoima, is a 95,000-square-foot building used as a soundstage facility as part of the Quixote studios campus.
“This financing reflects our ability to consistently execute on high-quality industrial investments while securing favorable, institutional financing that supports long-term value creation,” said Xebec president Jay Soni.
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