facebook
Traded Co logo
Submit
Daily limit: 0/10

Gantry Secures $12.8M Bridge Loan For Carson Plaza Retail Center Improvements

Property Image
FINANCED
$12,800,000
Murphy Osborne
Joe Foley

California

See Similar Deals
Retail80,838 SF
Financed 08/13/2024
the dealplayerscompscontact
Property Image
FINANCED

Gantry Secures $12.8M Bridge Loan For Carson Plaza Retail Center Improvements

603 East University Drive

See Similar Deals
Retail80,838 SF
Financed 08/13/2024
Murphy Osborne
Joe Foley
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$158
Total Square Footage:80,838 SF
Transaction Type:Loan

The asset involved in this transaction is a retail property located at 603-677 East University Drive in Carson, comprising 80,838 square feet. A bridge loan amounting to $12.8 million was secured to refinance existing debt, and facilitate leasing and improvements at the Carson Plaza retail center.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $12,800,000
  • Loan Type: Bridge
  • Loan Terms: Interest-only
  • Market: Carson
  • Brokers: Joe Foley & Murphy Osborne - Gantry

This transaction highlights the involvement of brokers Joe Foley and Murphy Osborne from Gantry, who facilitated the refinancing and the planned revitalization efforts at Carson Plaza, which include re-tenanting vacancies and proposed improvements extending into 2025.

Players

Murphy Osborne
Gantry
Murphy Osborne
7 deals$145.7M volume
BROKER
Joe Foley
Gantry
Joe Foley
10 deals$201.5M volume(415) 963-4554
BROKER

Details

FINANCED
IMAGE: Joe Foley & Murphy Osborne DATE: 08/13/2024 ADDRESS: 603-677 East University Drive MARKET: Carson ASSET TYPE: Retail ~ SF: 80,838 BROKERS: Joe Foley (@Joe_Foley_) & Murphy Osborne - Gantry (@Gantry_Inc) LOAN AMOUNT: $12,800,000 LOAN TYPE: Bridge LOAN TERMS: interest-only NOTE: Gantry secured a $12.8 million bridge loan to refinance existing debt and fund leasing and improvements at Carson Plaza retail center. The interest-only loan provides capital to re-tenant vacancies and revitalize the center, with plans extending into 2025.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$12,800,000.00

Monthly NOI$85,333.33
Monthly Debt Service$80,904.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00