Gantry Secures $21.6M Construction Loan For Studio City Retail Project | 11265-11321 Ventura Boulevard | George Mitsanas, Austin Ridge, Braden Turnbull | Development Site | Loan

Summary

Loan

CALIFORNIA

Development Site

67,400 sqft

Austin Ridge, Braden Turnbull, and George Mitsanas from Gantry have secured a construction-to-permanent loan of $21.6 million for a retail project in Studio City, Los Angeles. The project is located at 11265-11321 Ventura Boulevard and spans across 33,700 square feet. The loan terms include a fixed rate and interest-only terms over a five-year period.

Summary of transaction details

Property Type: Development Site
Transaction Amount: $21,600,000
Address: 11265-11321 Ventura Boulevard
Market: Studio City
Asset Type: Development Site
SF: 33,700

Gantry, the largest independent U.S. mortgage banking firm, collaborated with a correspondent lender for two years to develop this innovative construction-to-permanent financing program. This partnership led to the successful acquisition of the loan for the Studio City retail project, providing the necessary funding for its development.

Players

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4

Agents
3
Agencies
1

Details

Deal Summary

FINANCED

IMAGE: George Mitsanas, Austin Ridge & Braden Turnbull DATE: 11/29/2023 ADDRESS: 11265-11321 Ventura Boulevard MARKET: Studio City ASSET TYPE: Development Site ~ SF: 33,700 BROKERS: Austin Ridge, Braden Turnbull & George Mitsanas - Gantry (@Gantry_Inc) LOAN AMOUNT: $21,600,000 LOAN TYPE: Construction Loan LOAN TERMS: five-year, fixed rate and interest only terms over the life of the loan NOTE: Gantry, the largest independent U.S. mortgage banking firm, has secured $21.6 million in construction-to-permanent financing for a 33,700 sq ft retail project in Studio City, Los Angeles. The five-year loan, offering a fixed rate and interest-only terms, resulted from a two-year collaboration to innovate the construction-to-permanent financing program with a correspondent lender.

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Address11265-11321 Ventura Boulevard

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