Gantry secured a $25.4-million permanent loan to retire construction financing for the recently completed SW by CLG in Los Angeles. Located at 1947 Sawtelle Blvd. in West LA’s Japantown neighborhood, the four-story, Class A apartment building features 88 units and street-front retail space occupied by five restaurant concepts.
Principal Andy Bratt and associate Sean Kuang with Gantry’s Irvine production office represented the borrower, one of Southern California’s premier real estate developers. The five-year loan was secured from one of Gantry’s correspondent life insurance companies and features a fixed rate with interest-only terms and flexible pre-payment penalty.
Bratt said, “Sponsorship had a very specific approach to finding the right capital source for SW by CLG and recognized Gantry’s mortgage banking platform as a great way to access best in class life insurance companies. Gantry worked with sponsorship on a very targeted marketing process, understanding the desired terms that would be necessary for making a deal.
He continued, “We ultimately locked with one of Gantry’s life company correspondent relationships with a permanent, five-year loan featuring a fixed rate, interest-only terms, and pre-payment flexibility to anticipate a potential lower future rate climate.”
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