Updated Sep 9, 2024
Gantry Secures $10M Refinance Loan For Corte Madera Industrial Complex
Koch Road And Fronting Highway 101, Marin County’s N/S Freeway
$10,000,000
$263/SF
Building Size
38,000 SF
Asset Type
Industrial
Closing
Apr 13, 2023
About this deal
AI
A $10 million loan has been secured by Gantry to refinance a fully leased three-building flex industrial complex in Corte Madera, CA. The complex is located in a prime location on Koch Road, fronting Marin County's only north/south freeway, Highway 101. With a total area of 38,000 square feet, this industrial property offers ample space for businesses to operate.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $10,000,000
- Loan Type: Refinance
- Loan Terms: Fixed-rate
- Brokers: Tony Kaufmann & Alex Poulos - Gantry
Gantry, a notable real estate firm, played a crucial role in securing the loan for this industrial complex. They have established strong relationships with exclusive correspondent life insurance company lenders, which enabled them to obtain a low-interest rate for their client. By leveraging their expertise and connections, Gantry demonstrated their ability to navigate a tightening credit market. The successful refinancing of this high-quality asset further strengthens Gantry's reputation in the industry.
Players
Market Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93