Gantry Secures $12M ReFi For Pogoda Companies

Gantry has secured $12 million across two loans to refinance maturing debt for a pair of National Storage facilities in suburban Detroit on behalf of Pogoda Companies. The stabilized properties offer a total of 1,082 units totaling over 141,000 net rentable square feet with additional vehicle storage and both climate-controlled and drive-up units.

Gantry’s Director Andy Weiss, Principal Andy Bratt, and Associate Nick Severson, all with the firm’s national self-storage team, represented the borrower, a private real estate investor. The seven-year, fixed rate loan was provided by one of Gantry’s life company correspondents and features not only an attractive spread but full-term interest only and flexible prepayment. Gantry will service the loan on behalf of the lender.

According to Gantry’s Andy Weiss, “Gantry’s niche and leading nationwide self-storage practice, combined with access to the widest roster of correspondent insurance companies, allows our teams to provide coverage of the entire capital markets for our client(s). For this pair of stabilized assets with strong operating history, we were able to show lender options across the capital markets, including not only, CMBS banks and credit unions but our 35+ life company correspondents who remain the best balance sheet source for permanent debt on quality self-storage assets.”