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October 8, 2020

Gantry secures $4.7M refi for industrial park

Gantry just announced that it has secured a $4.7 million refinancing loan for the owner South Park Industrial Park, an LLC related to SeaCon Development. The 21-year loan, from Securian, features a 21-year amortization period. Gantry's Michael Wood and Colin Ceithaml arranged the deal. Wood said in a statement, “The borrower was looking to refinance out of a higher interest rate recourse loan and wanted a fully amortizing loan while keeping their cash flow the same.” The two buildings, with total 67,714 square feet, are leased to Sherwin-Williams, Johnson Controls and NRC Environmental. They're just west of state Route 99.




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