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BEVERLY HILLS, CALIF. — Gantry has secured $20 million to recapitalize the signature Beverly Hills location of Saks 5th Avenue. The loan was originated with one of Gantry’s correspondent life insurance company lenders and secured on behalf of the private client property owner.
Situated on Wilshire Boulevard, the property is a landmark location for the luxury retailer. Saks 5th Avenue men’s and bridal departments occupy the entire building while the remaining departments are located in Saks’ separate building immediately east across Bedford Drive. The subject property also includes an adjacent parking structure.
Braden Turnbull and Josh Natker of Gantry’s Los Angeles office placed the 25-year loan for the borrower.