Gantry Secures Refinancing for Two Monterey Bay Retail Assets

According to REBusiness Online, Gantry arranged $15.4 million in permanent financing to refinance two separately owned neighborhood retail properties on opposite ends of the Monterey Bay region. The transactions involved Creek Bridge Village in Salinas and Brown Ranch Marketplace in Capitola, with Tom Dao and Jake Davis of Gantry representing the borrowers, both private real estate investors.

The Salinas financing was tied to Creek Bridge Village, a mixed-use property with 35,000 square feet of retail space and 17 apartments across five buildings. Gantry secured a 10-year, fixed-rate nonrecourse loan from one of its correspondent life company lenders. The loan carries a 30-year amortization schedule, and Gantry will service the financing on behalf of the lender.

In Capitola, the refinance covered Brown Ranch Marketplace, an 85,000-square-foot neighborhood retail center anchored by Trader Joe’s. That property received a 10-year, fixed-rate loan from a regional bank. The financing includes a 25-year amortization schedule and prepayment flexibility.

Key Details

These were refinancing transactions, not property sales. Gantry acted as the intermediary arranging permanent loans, while Dao and Davis represented the borrowers. The source identified the borrowers only as private real estate investors and did not name the ownership entities.

For Creek Bridge Village, the key property details include its location in Salinas, its 35,000 square feet of retail space, and 17 apartments spread across five buildings. Its financing was structured as a 10-year, fixed-rate, nonrecourse loan through a correspondent life company lender, with 30-year amortization. Gantry will also service that loan.

For Brown Ranch Marketplace, the source identified the property as an 85,000-square-foot retail center in Capitola anchored by Trader Joe’s. Its refinancing came from a regional bank in the form of a 10-year, fixed-rate loan with 25-year amortization and prepayment flexibility.

Across both assignments, the main timeline detail disclosed was the long-term nature of the debt: each loan runs for 10 years as permanent financing for existing retail assets.

Why It Matters

For commercial real estate professionals, the pair of loans highlights continued lender appetite for established neighborhood retail properties with defined tenancy and long-term ownership strategies. It also shows how different lender types can be matched to different assets, with a life company lender financing one property and a regional bank funding the other.

The transactions further underscore the importance of tailored debt structures in retail refinancing. Features such as nonrecourse terms, extended amortization, and prepayment flexibility can shape how owners manage cash flow, hold periods, and future capital planning for stabilized assets.