Gantry has secured a $7-million permanent loan to refinance a Silicon Valley R&D industrial facility located at 1635 McCarthy Blvd. in Milpitas, a key submarket for semiconductor and technology manufacturing operations. The 48,531-square-foot facility on 3.4 acres is 100%-leased to a longstanding manufacturing tenant with a significant infrastructure investment at the site.
Director Murphy Osborne and associate Alex Poulos with Gantry’s San Francisco production office represented the borrower, a private real estate investor. The five-year, fixed-rate loan was secured through one of Gantry’s correspondent insurance company lenders and features 30-year amortization. Gantry will service the loan.
Osborne said, “Gantry continues to have great success working with our insurance company correspondents to finance Silicon Valley and Bay Area industrial properties of all types, be it flex, R&D or traditional warehouse space. For this assignment on behalf of an experienced sponsor with a strong regional presence, our team’s insight into key local fundamentals enabled us to punctuate its qualifying DSCR to generate strong offers from a national roster of lenders.”
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