Gantry secured a $28.5-million construction-to-permanent loan for the re-development of an existing office building 100% pre-leased by the GSA as a new facility for the Executive Office of Immigration Review, a subsidiary agency of the U.S. Department of Justice. Located at 5245 Pacific Concourse Dr. in Los Angeles, the 66,000-square-foot office building is planned to deliver a modern facility tailored for use by the agency.
Principals Mark Ritchie and Amit Tyagi and associate Alicia Sabanero, all with Gantry’s Los Angeles office, represented the borrower, a private real estate company. The multi-decade construction-to-permanent loan was provided by one of Gantry’s correspondent life company lenders with a long-term fixed interest rate.
Ritchie said, “This new immigration court facility for the Executive Office of Immigration Review will provide a modern environment for the workflow of this ever-relevant agency. Gantry’s track record in this space provided the client with a high level of comfort we could deliver these favorable terms in a highly volatile market. Gantry crafted some unique structures allowing the borrower multiple pre-payment periods over the term, allowing for an early exit of the loan if ever desired.”
