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Gantry secures $9 million life company loan for Temecula offices
The three-year, fixed-rate deal is intended to refinance a prior CMBS loan, with Gantry servicing the new financing.
Gantry arranged a $9-million life company loan to refinance a CMBS loan tied to Vail Ranch Town Square, a three-story, 55,000-square-foot suburban office building in Temecula, according to ConnectCRE.
The borrower, a private Southern California real estate investor, used the financing to retire the existing CMBS debt. The fixed-rate, three-year structure included a rate lock at application designed to protect the borrower in a rising rate environment.
Gantry will service the loan for the lender. ConnectCRE also said the property is 100% leased to medical, dental, behavioral health, and professional service tenants.
The report added that the building at 32605 Temecula Pkwy. offers surface parking and convenient access to nearby retail, dining, and residential neighborhoods.