An article has been released announcing that a $40 million financing deal has been arranged for the acquisition of four self-storage facilities in Tennessee and Florida. These facilities have a total of 286,000 rentable square feet and are part of a strategic 1031 exchange. The financing was secured by Gantry on behalf of a multi-generational private family and included both permanent and bridge loans from correspondent life company lenders.

Summary of transation details

• Property Type: MultiFamily
• Transaction Amount: $40 million
• Loan Type: Permanent & Bridge Loan
• Loan Terms: The loans consist of permanent loans of 7- and 12-years, each with significant interest only periods. There are also two bridge loans, done through a correspondent life insurance company, featuring extension options and an interest only period.

Gantry, a real estate finance firm, acted as the intermediary in securing this financing deal. The deal was facilitated by brokers Andy Bratt and Amit Tyagi. Andy Bratt and Amit Tyagi represented the multi-generational private family in this transaction.