307,000 SQFT Esquire Plaza Class A Office Tower in Sacramento Refinanced for $19.5MM

Sacramento, Gantry, Esquire Plaza, Associated Press, California Building Industry Association, California Chamber of Commerce, California Hospital Association, Johnson & Johnson, San Francisco

Sacramento, Calif. (December 15, 2022) – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $19.5 million permanent loan to refinance Esquire Plaza, a 22-story, 307,000-square-foot, Class A office tower anchoring Sacramento’s Governmental Affairs District skyline. Notable tenants include the Associated Press, California Building Industry Association, California Chamber of Commerce, California Hospital Association, Johnson & Johnson, and others.

Gantry’s Murphy Osborne, Director, with the firm’s San Francisco office and Crischell Bacarro, Associate, secured the financing on behalf of a prominent local sponsor.

According to Gantry’s Murphy Osborne, “While office financing is challenging today, Esquire Plaza is a modern and highly-amenitized Class A office tower with strategic relevance from its direct proximity to the State Capitol. Its strong fundamentals paired to active and experienced sponsorship make it a case study for underwriting long-term debt for office properties post COVID. Our correspondent life company lenders are looking to fund loans at attractive rates for superior office properties with committed sponsorship, a clear business plan, leasing demand, and strong occupancy. When these elements are in place, our life company correspondent lenders are a tremendous source for long-term, fixed rate commercial mortgage options at attractive rates in this current market cycle.”

About Gantry
Gantry, a privately held company headquartered in San Francisco, is a full-service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Gantry’s production, closing, and servicing capabilities. Established in 1991, Gantry is currently staffed by nearly 100 professionals in regional offices throughout the western United States and in New York with over 45 production teams that originated nearly $5 Billion in the last 12 months. The company’s national servicing platform of over $18 billion represents more than 2,100 loans located in 43 states. Gantry is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance-chartered companies with this designation. 

West Coast Commercial Real Estate News