VERNON AND PACOIMA, CALIF. — Gantry has secured a $40 million permanent loan to retire maturing debt on two cross-collateralized industrial buildings in Vernon and Pacoima, two active Los Angeles submarkets. Both buildings are fully occupied with different single-tenant occupiers.
PODS occupies the first building, a 203,000-square-foot property located at 5370 Boyle Ave. in Vernon. The second asset, located at 10445 Glenoaks Blvd. in Pacoima, is a 95,000-square-foot building used as a sound stage facility as part of the Quixote studios campus.
George Mitsanas, Bahman Mirhashemi and Keegan Bridges of Gantry represented the borrower, a privately held real estate joint venture managed by Xebec, a private real estate investor. The five-year, fixed-rate loan was secured from an insurance company lender and features full-term, interest-only payments.