Gantry secured $15.3 million of permanent financing for a 51,000-square-foot, one-story, single-tenant flex-office building located at 601 Hawaii St. in El Segundo. The property is 100% occupied by healthcare provider DaVita as its regional headquarters and national training facility.
Principal Mark Ritchie, senior director Amit Tyagi and associate Alicia Sabanero with Gantry’s Los Angeles office secured the financing on behalf of the borrower, a private real estate investor. The five-year, fixed-rate loan was provided by a conduit lender and features interest-only terms for the life of the loan.
Ritchie said, “For office assets with a story to tell, be that in current or projected performance, we can typically identify several financing options that meet a client’s capital requirements. Options will include life company, bank, debt fund and credit union loan programs. However, in the case of this asset’s owner, a five-year conduit loan with a fixed interest rate fulfilled their objective to navigate current market volatility and sustain stable operations. After a comprehensive evaluation of the lending solutions, it was determined that this CMBS financing best aligned with their strategic goals.”