{"id":5277,"date":"2023-12-26T13:04:47","date_gmt":"2023-12-26T13:04:47","guid":{"rendered":"https:\/\/listselfstorage.com\/us\/industry-insights\/?p=5277"},"modified":"2024-01-17T08:58:07","modified_gmt":"2024-01-17T08:58:07","slug":"gantry-arranges-refinance-for-two-self-storage-properties-in-bay-area-ca","status":"publish","type":"post","link":"https:\/\/listselfstorage.com\/us\/industry-insights\/gantry-arranges-refinance-for-two-self-storage-properties-in-bay-area-ca\/","title":{"rendered":"Gantry Arranges Refinance For Two Self-Storage Properties in Bay Area, CA"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<img loading=\"lazy\" class=\"wp-image-5278 aligncenter\" src=\"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-content\/uploads\/2023\/12\/Gantry_Refi.png\" alt=\"\" width=\"554\" height=\"338\" \/><\/p>\n<p><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">Gantry secured a total of $17.6 million in permanent loans to refinance a pair of Bay Area self-storage facilities. The life company financings funded the sponsor at $9.5 million for SAF Keep San Ramon and $8.1 million for SAF Keep Hayward, which totals 244,605 square feet of rentable space. <\/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;\">Principal Tom Dao and associate Erinn Cooke with Gantry\u2019s dedicated Self Storage Financing Team secured the financing on behalf of the borrower, a private real estate entity. The 10-year loans were sourced from one of Gantry\u2019s correspondent life company lenders and features an attractive fixed rate locked at application with 30-year amortization.<\/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;\">Dao said, \u201cWe locked in the rates when the U.S. Treasury indices were in the in the low- to mid-3% range and closed six months later, when the indices had increased by nearly 1%. Once the rates were locked, rate risk was off the table, and we focused on loan closing.\u201d<\/span><\/span><\/span><\/p>\n<p><a href=\"https:\/\/www.connectcre.com\/stories\/gantry-arranges-refi-for-two-bay-area-self-storage-properties\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"text-decoration: underline;\"><span style=\"color: #222222;\"><span style=\"font-family: Lato, Helvetica Neue, Arial, Helvetica, sans-serif;\"><span style=\"font-size: medium;\">Source<\/span><\/span><\/span><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gantry secured a total of $17.6 million in permanent loans to refinance a pair of Bay Area self-storage facilities. The life company financings funded the sponsor at $9.5 million for SAF Keep San Ramon and $8.1 million for SAF Keep Hayward, which totals 244,605 square feet of rentable space. Principal Tom Dao and associate Erinn Cooke with Gantry\u2019s dedicated Self Storage Financing Team secured the financing on behalf of the borrower, a private real estate entity. The 10-year loans were sourced from one of Gantry\u2019s correspondent life company lenders and&hellip;<\/p>\n","protected":false},"author":13,"featured_media":5278,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,4],"tags":[],"gutentor_comment":0,"_links":{"self":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/5277"}],"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=5277"}],"version-history":[{"count":1,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/5277\/revisions"}],"predecessor-version":[{"id":5279,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/posts\/5277\/revisions\/5279"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media\/5278"}],"wp:attachment":[{"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/media?parent=5277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/categories?post=5277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/listselfstorage.com\/us\/industry-insights\/wp-json\/wp\/v2\/tags?post=5277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}