Gantry has secured a $10 million permanent loan to refinance a near-term maturity for the Nob Hill Shopping Center, an 88,500-square-foot center that is home to a Safeway grocery store and gas station. Located at 2204 W. Nob Hill Blvd in Yakima, a Central Washington MSA, the property also features a tenant roster, including a national pharmacy, restaurants, and professional services tenants.
Gantry’s Tony Kaufmann, principal, and Erinn Cooke, senior associate, with Gantry’s San Francisco production office, secured the loan on behalf of the borrower, a private retail real estate investment company. The 30-year, fixed rate loan was provided by one of Gantry’s correspondent life company lenders.
“Gantry is well positioned in the current cycle to provide optimized debt solutions for retail property owners through our extensive network of life company correspondents,” said Kaufmann. “Outside of traditional enclosed malls, stabilized retail assets are a primary allocation for their 2024 programs.”
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