Gantry has secured a $22 million permanent loan to refinance maturing debt for Chesterfield Commons, a high-performance retail power center located at 100-290 THF Blvd in Chesterfield, a suburb west of St. Louis.
The 750,000-square-foot inline center is well stabilized and anchored by Walmart, Sam’s Club, Lowe’s, Best Buy, and Ross. Additional tenants include a mix of 40 restaurants, fast food, beauty, fashion, professional service, sporting goods, banking, home goods, health & wellness and other retailers.
Gantry’s Joe Monteleone, Principal, and Rulin Dai, Associate, with the firm’s St. Louis production office, represented the borrower, a private real estate investor. The five-year, fixed-rate, non-recourse loan was secured from one of Gantry’s correspondent insurance company lenders and offers full-term interest only. Gantry will service the loan for the lender. “Insurance company lenders continue to deploy a growing percentage of their allocations to loans for retail assets, targeting power, grocery-anchored, and neighborhood centers,” said Monteleone.
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