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LAS VEGAS — Gantry has secured a $17 million fixed-rate refinancing for the first phase of Silverado Commerce Center, an industrial property in southwest Las Vegas. The borrower is a private real estate investor, which developed the property. Proceeds of the loan will pay off the developer’s construction loan.
Chris Funai of Gantry arranged the 10-year loan, which features a fixed rate and a 30-year amortization schedule. One of Gantry’s correspondent life company lenders provided the funds.
The property features two industrial buildings totaling 141,000 square feet. At time of financing, the asset was fully occupied by multiple tenants.