Gantry Secures $16.7 Million for Tucson’s Plaza Colonial

Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $16.7 million permanent loan to refinance Plaza Colonial, a luxury office and retail mixed use property located at 2840-2890 E. Skyline Dr. and 6375 N. Campbell Ave. 

The property’s four buildings offer 83,869 rentable square feet of retail and office space in total, surrounding a lush landscaped and art filled courtyard and epic views of the Catalina Mountains from a signature foothill location known as one of Tucson’s most desirable retail trade intersections.

Gantry’s Patrick Barkley, Principal, and Chad Metzger, Senior Associate, with the firm’s Phoenix production office represented the borrower, a private real estate investor. The five-year, fixed rate loan was secured through an institutional balance sheet lender and features full-term interest only. Gantry will service the loan.

According to Gantry’s Patrick Barkley, “While the office sector continues to face headwinds in the current market cycle, Gantry successfully secured financing through a lender comfortable with underwriting new office exposure. Plaza Colonial stands out as one of metro Tucson’s premier professional and retail destinations, with occupancy and performance metrics that reflect its strong positioning. Despite its strengths, the property presented underwriting challenges due to its mixed-use nature—including office space.  

By initiating the process early and engaging a broad range of potential lenders, Gantry was able to identify an institutional balance sheet lender aligned with the asset’s performance, tenant stability, and favorable local market dynamics. The finalized loan included a competitive fixed interest rate and full-term interest-only payments, structured to appropriately reflect the property’s diverse uses and strong fundamentals.”