Gantry Secures $10.7M Construction Loan For 28-Townhome Project In Ontario

The property at 1411 North Grove Avenue in Ontario, Calif., is a multifamily asset consisting of 28 units spanning 38,144 square feet. The construction loan secured for this project amounted to $10,700,000 and features a two-year term with interest-only payments, along with two six-month extension options. The loan was arranged through gantry-4'>Gantry's network of lenders, highlighting the strong housing demand and economic fundamentals of the project.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,700,000
• Units: 28
• Square Footage: 38,144
• Address: 1411 North Grove Avenue
• Market: Ontario
• Landlord: Glenn Wesissman
• Brokers: Stefan Malmlund, Tom Grzebinski & Zachary Wagner - gantry-4'>Gantry

gantry-4'>Gantry played a pivotal role in securing the construction loan for the 28-townhome project, underscoring the company's expertise and strong relationships within the lending community. The successful arrangement of the loan reflects gantry-4'>Gantry's ability to identify and capitalize on opportunities in the real estate market, ultimately facilitating the development of this promising project expected to be completed by early 2026.