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PHOENIX — Gantry has secured a $20 million permanent loan to refinance a flex industrial building in Central Phoenix.
Tim Storey of Gantry arranged the financing on behalf of the borrower, a private investor. The 10-year, fixed-rate loan features interest-only payment terms. One of Gantry’s institutional debt fund lenders provided the loan.
A single credit tenant occupies the 100,000-square-foot property, which is customized for use in human and pet pharmaceutical product manufacturing and distribution, on a long-term lease.