Gantry Secures $7M Permanent Loan

Gantry has secured a $7 million permanent loan to retire construction financing for Epic Storage at Ann Road, a 681-unit self-storage facility with 46 RV parking spaces. The class “A” property, completed and opened in Q3 2023, is located at 10490 Hammer Lane in Las Vegas and is in a position to serve the growing suburbs of Northwest Las Vegas with immediate access to the I-215 Beltway.

Chris Funai, Senior Director with the firm’s Las Vegas production office, represented the borrower, a local real estate developer. The 10-year loan was procured from one of Gantry’s Insurance Company correspondents at an attractive fixed rate and 30-year amortization period.

According to Gantry’s Chris Funai, “Our firm’s efforts in developing a consistent pipeline with our insurance company lenders over the past decade has resulted in a consistent and reliable source of non-recourse financing for high quality assets in what remains a tumultuous market cycle for commercial real estate.”