Gantry secured a $15.5 million permanent loan to recapitalize Fullerton Brea Business Park following its recent all-cash purchase. The North Orange County multi-tenant industrial park is located at 4010-4080 North Palm St in Fullerton on Imperial Highway and includes eight multi-tenant industrial buildings with a total leasable area of 111,000 square feet.
Managing directors Andy Bratt and Peter Welsh and partner Sean Kuang of Gantry’s Irvine manufacturing office secured the loan on behalf of the borrower, a private real estate investor. The five-year fixed-rate loan was provided by one of Gantry’s key life insurance correspondents and includes interest-only for the entire term and flexibility for early repayment. A value-added business plan was recently prepared for the property to enhance the business park and provide Gantry’s clients with additional opportunities for further rent increases and value appreciation.
Bratt said: “This is an experienced sponsor with a sophisticated investment strategy that includes strategic cash purchases. This was an opportunity for us to repay a relevant portion of a cash purchase with a fixed rate loan from one of our leading life insurance partners.”
