Dealmaker: Gantry Secures $11M for Bay Area Self Storage Facility

(Photo courtesy of Gantry)

Gantry, San Francisco, secured a $10.75 million permanent loan to retire construction financing on a new self-storage facility in East Bay San Francisco suburb Antioch, Calif.

CubeSmart manages the facility at 1790 Vineyard Drive. The 2020-vintage Class A facility encompasses 130,000 square feet of climate-controlled and drive-up units.

Gantry Principal Tom Dao secured the loan for a private real estate entity borrower. He noted the five-year loan met many of the borrower’s requested features, such as interest-only payments followed by a 30-year amortization schedule, flexible pre-payment structure and an attractive fixed rate.

“Self-storage remains one of the preferred asset classes for a wide range of our lenders,” Dao said. “Self-storage continues to enjoy strong performance across its major markets.”