Tom Dao & Jake Davis Of Gantry Arrange $15.4M Refinance For Mixed-Use Properties In Salinas And Capitola

Two neighborhood retail properties located at 11486-596 Constitution Boulevard in Salinas and 3555 Clares Street in Capitola, California, were involved in a refinancing transaction. The properties encompass a total of 120,000 square feet, comprising a 35,000-square-foot mixed-use property and an 85,000-square-foot Trader Joe's-anchored retail center. The loan amount for this refinancing was $15,400,000, structured as a 10-year, fixed-rate nonrecourse loan.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $15,400,000
• Loan Type: Refinance
• Loan Terms: 10-year, fixed-rate nonrecourse
• Market: Salinas & Capitola, CA
• Brokers: Tom Dao & Jake Davis - Gantry

Tom Dao and Jake Davis represented the borrowers, who are private real estate investors, in securing this permanent refinancing for their respective properties. Gantry facilitated the financing arrangement for both the Creek Bridge Village and the Brown Ranch Marketplace, ensuring the financial needs of the investors were met effectively.