Gantry secured $27.9 million in structured financing for the acquisition of Tubac Golf Resort & Spa, located in Tubac, Ariz. The AAA Four Diamond resort sits on more than 500 acres of the historic Otero Ranch, about 45 miles south of Tucson with ready access to I-19. It features 98 rooms and suites, including 17 private casitas, a 27-hole golf course, and a full-service spa.
Gantry’s Adam Parker and Andrew Christopherson represented the borrower. The financing pairs a 5-year fixed-rate loan from a Regional Bank with a 25-year SBA 504 loan, funded through a Certified Development Company (CDC), in second position. Both loans carry a 25-year amortization.
Parker added, “We found the right regional bank and paired it with an SBA 504 structure. The CDC’s loan, secured by a second lien, gave the sponsor a lower cost of capital as opposed to a mezzanine structure.”
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