{"id":4859,"date":"2023-10-30T15:23:32","date_gmt":"2023-10-30T15:23:32","guid":{"rendered":"https:\/\/listselfstorage.com\/us\/industry-insights\/?p=4859"},"modified":"2023-10-30T15:23:32","modified_gmt":"2023-10-30T15:23:32","slug":"gantry-secures-8-million-for-south-loop-self-storage-in-chicago-il","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/gantry-secures-8-million-for-south-loop-self-storage-in-chicago-il\/","title":{"rendered":"Gantry Secures $8 Million for South Loop Self Storage in Chicago, IL"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<img loading=\"lazy\" class=\"aligncenter\" src=\"https:\/\/www.connectcre.com\/wp-content\/uploads\/2023\/10\/Extra-Space_605-S.-Wabash-Ave_Chicago.jpg\" width=\"550\" height=\"342\" \/><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\"><a href=\"https:\/\/www.gantryinc.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline;\"><strong>Gantry<\/strong><\/span><\/a> has secured an $8 million permanent loan to refinance existing debt on a South Loop self-storage facility converted from a former parking structure. Located at 605 S. Wabash Avenue, the 95,000-square-foot facility encompasses 1,184 units across five stories. The property is now under new on-site management, operating as an Extra Space Storage, and making rapid progress towards stabilization in a programmatic fashion.<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">Gantry\u2019s Andy Bratt, principal, and Sean Kuang, associate, secured the loan on behalf of the borrower, a private real estate investor. The five-year, fixed-rate permanent loan was secured from an insurance company with terms including an initial interest-only period, no recourse, and a step-down prepayment penalty.<\/span><\/span><\/span><\/p>\n<p><span style=\"color: #222222;\">\u201c<span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">Over the past decade, the self-storage industry has attracted sophisticated capital and evolved into an institutional asset class,\u201d said Bratt. Gantry, a privately held company headquartered in San Francisco, is a full-service mortgage banking firm that was established in 1991.<\/span><\/span><\/span><\/p>\n<p><a href=\"https:\/\/www.connectcre.com\/stories\/gantry-secures-8m-for-chicago-south-loop-self-storage\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\"><u>Source<\/u><\/span><\/span><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gantry has secured an $8 million permanent loan to refinance existing debt on a South Loop self-storage facility converted from a former parking structure. Located at 605 S. Wabash Avenue, the 95,000-square-foot facility encompasses 1,184 units across five stories. The property is now under new on-site management, operating as an Extra Space Storage, and making rapid progress towards stabilization in a programmatic fashion. Gantry\u2019s Andy Bratt, principal, and Sean Kuang, associate, secured the loan on behalf of the borrower, a private real estate investor. The five-year, fixed-rate permanent loan was&hellip;<\/p>\n","protected":false},"author":13,"featured_media":4860,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/4859"}],"collection":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/comments?post=4859"}],"version-history":[{"count":1,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/4859\/revisions"}],"predecessor-version":[{"id":4861,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/4859\/revisions\/4861"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/4860"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=4859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=4859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=4859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}