Gantry secured a total of $21.6 million in construction-to-permanent financing for the development of a 33,700-square-foot grocery-anchored retail project located at 11265-11321 Ventura Blvd in the Studio City submarket of Los Angeles.
An El Segundo-based team of principals Braden Turnbull and George Mitsanas and associate Austin Ridge represented the borrower, a private real estate entity. The five-year construction-to-permanent loan was provided by one of Gantry’s correspondent lenders, offering an attractive fixed rate and interest only terms over the life of the loan.
Turnbull said, “Behind the scenes of this transaction, Gantry has worked closely over two years with one of our longstanding correspondents to develop a C2P program that met their investment committee approval. This is the first loan of that successful effort.”