Gantry Secures $31M of Permanent Loans for CA Self Storage Facilities

Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a total of $31.76 million of permanent loans to refinance three separately owned California self-storage facilities in since the start of 2025.

The most recent loan provided $9.76 million in May to refinance an 829-unit facility managed by ExtraSpace located at 224 N A St in Lompoc, a Central Coast community in Santa Barbara County.

The second loan provided $10 million in April to refinance the 654-unit StoreLocal Oakley facility located at 4700 Main Street in Oakley, an eastern Bay Area suburb in Contra Costa County.

The third loan provided $12 million in February to refinance a 1,124-unit SAF Keep Oakland facility, located at 655 3rd Street in Oakland. These facilities are all operating at fully stabilized conditions with experienced sponsorship and management in place.

Gantry’s Tom Dao, Principal, and Erinn Cooke, Senior Associate, represented the borrowers, separate private real estate investors. The permanent, fixed rate loans were secured via individual lenders from Gantry’s extensive roster of debt sources, including two of the firm’s life company correspondents and an institutional balance sheet lender.

According to Gantry’s Tom Dao, “Gantry enjoys access to a range of lenders with unique financing programs that meet the needs of self-storage assets in various stages of their investment cycle. Our self-storage expertise allows us to survey these options to align clients with the right source for an optimized loan structure. Gantry’s insurance company lenders remain a consistent and highly competitive source for non-recourse self-storage loans, with rate lock at application being a real advantage for their programs in what remains a volatile rate climate.”

Continuing, Dao added “Gantry is able to reach out to a vast roster of lenders, some that may underwrite higher proceeds, can also structure the loan as non-recourse, include an interest only period, or underwrite from recent improvements to rents and occupancy at the facility. This range of options allows us to tailor a solution that is the right fit for our borrower. We listen carefully to our borrower’s objectives and craft a proper solution to meet those objectives.”

About Gantry
At Gantry, independent thinking is in our genes. As a privately held firm, we take an intentional approach to everything we do. So, as our industry consolidates and becomes less personal, we push ourselves to ignore convention, to set a high standard and to always prioritize people ahead of profits. With over 30 years of experience of loan production and managing a $23 billion national servicing portfolio, our firm leverages a well-established correspondent-driven platform to construct the best financing solutions for our clients. For those seeking a partner that delivers more, we’re a little different. The right kind of different. To find out how and why, click here: www.gantryinc.com