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Gantry refinances Santa Clara light industrial property with $9.65M loan
The 10-year, fixed-rate, non-recourse financing carries 30-year amortization and covers 37,600 square feet that are 100% leased under a long-term deal.
Gantry has secured a $9.65-million permanent loan to refinance maturing debt tied to the acquisition of a two-building light industrial property in Santa Clara, California, at 2290 De La Cruz Blvd, according to ConnectCRE.
The financing is structured as a 10-year, fixed-rate, non-recourse loan with 30-year amortization, sourced from one of Gantry’s correspondent insurance company lenders. Gantry will service the loan for the lender.
The property totals 37,600 square feet across the two buildings, including an 11,500-square-foot addition that was recently constructed. ConnectCRE reports the asset is 100% leased under a long-term agreement to a national auto collision repair business.
ConnectCRE also notes that Gantry principal Tony Kaufmann said the property is a rare option in the Silicon Valley market for non-tech or AI-related tenants, and that the sponsor chose to land-bank the site by expanding and renovating the existing light industrial buildings for those uses.