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Dealmaker: Gantry Secures $16M Permanent Loan for FedEx Facility in Oregon

(Image courtesy of Gantry)

Gantry, San Francisco, secured a $16.25 million permanent loan for the acquisition of a warehouse facility in Portland, Ore., occupied by FedEx Ground.

Gantry’s Tony Kaufmann, Principal, and Joe Foley, Associate, with the firm’s San Francisco production office represented the borrower, a private real estate investor.

The long-term fixed-rate loan was secured from one of Gantry’s correspondent life company lenders and structured with a term that exceeds the tenant’s firm lease term. The loan is half-term interest only, followed by a 30-year amortization period, Gantry said.

The site is 212,000 square feet, with 126 doors. It has been occupied by FedEx for decades and was fully redeveloped about 10 years ago.  

“We are beginning to see price discovery for new acquisitions in what has been a tumultuous market cycle, and the financing options to facilitate the transactions remain readily accessible from Gantry’s roster of correspondent lenders,” Kaufmann said.