San Francisco — San Francisco-based Gantry has arranged four separate permanent loans totaling $42.8 million to refinance four retail properties in California, Illinois, Oregon and Wisconsin. Andy Bratt and Sean Kuang of Gantry arranged all four loans through a single life company lender on behalf of the borrower, a series of Rhino Investments Group (RIG) affiliates. The loans carry fixed interest rates with 30-year amortization schedules. Gantry will service the loans. The loan proceeds were used to retire existing debt, fund tenant improvements and provide additional cash-out tied to executed leases with future occupancy dates.
The 480,000-square foot portfolio includes Cathedral City Marketplace in Cathedral City, California (185,165 square feet); 7915 N. Hale Ave. in Peoria, Illinois (99,900 square feet); Lancaster Marketplace in Salem, Oregon (109,000 square feet); and Manitowoc Shopping Center in Manitowoc, Wisconsin (87,200 square feet). Anchor tenants across the portfolio include grocery, hardware, auto supply, fashion, home furnishings, banking, professional services, health and wellness, restaurant and entertainment operators. RIG owns and operates all four retail centers.