Gantry secured a $14.7 million permanent loan for the acquisition of Eastport Tech Center at 1601,1605,1607 and 1609 Eastport Plaza Drive in Collinsville, Illinois, in the St. Louis market.
The four-building industrial park encompasses 202,508 square feet on 14.2-acres and serves the greater St. Louis MSA from an Illinois-border location with direct access to major regional highways, including I-55, I-255, I-64, and I-70. The property is 100%-occupied in a multi-tenant format with a staggered rent roll.
Gantry’s Joe Monteleone, Principal, and Bonnie Monteleone, Senior Associate, with the firm’s St. Louis production office represented the borrower, a private real estate company. The five-year, fixed rate loan was provided by one of Gantry’s correspondent insurance company lenders and features 30-year amortization.
