Property Type Multi-Family
Financing Type Permanent
Date January 19, 2016
Gantry has arranged permanent financing in the amount of $5,375,000 secured by a 117 unit multi-family property in Nampa, ID, located near Boise.
Gantry has arranged permanent financing in the amount of $5,375,000 secured by a 117 unit multi-family property in Nampa, ID, located near Boise. Demetri Koston, Vice President for Gantry in Spokane, worked on behalf of the borrower to arrange the 15-year loan.
The borrower engaged Gantry directly to arrange the acquisition financing. Given the borrower had recently traded out of another property, the timeline for closing was especially critical. Gantry presented several possible options including agency financing, life insurance companies, banks, and other sources. Mr. Koston worked closely with the borrower to select a lender and a structure providing the most attractive non-recourse solution available. Additional terms of the financing were not disclosed.
Gantry is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Gantry’s production, closing and servicing capabilities. Established in 1991, Gantry is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $7 billion representing 900 loans. Gantry has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.
For more information on this transaction, please contact Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.