Property Type Multi-Family
Financing Type Permanent
Date September 10, 2020
The portfolio includes a recently-renovated 14-unit multifamily property and a 6-unit multifamily property, both located in South Pasadena, CA.
Gantry, the largest independent commercial mortgage banking firm in the U.S., secured $8,170,000 in financing for a recently-renovated 14-unit multifamily property and a 6-unit multifamily property, both located in South Pasadena, CA. At loan close, both properties were 100% occupied.
Gantry’s Peter Hillakas, Senior Director, and Andrew Curtis, Associate, represented the borrower in securing the 7-year, interest-only loan through an agency lender.
Gantry’s Hillakas said, “The sponsor, focused on what it does well, that being value-add apartment investing and development in Southern California. The firm’s success at making improvements to these two garden-style apartments in a high-barrier market like South Pasadena was recognized by lenders.”