Property Type Multi-Family
Date January 19, 2016
Gantry has arranged permanent financing in the amount of $9,000,000 secured by a new 144 unit multi-family property located in Spokane Valley, WA.
Gantry has arranged permanent financing in the amount of $9,000,000 secured by a new 144 unit multi-family property located in Spokane Valley, WA. Demetri Koston, Vice President for Gantry in Spokane, worked on behalf of the borrower to arrange the 10-year term.
The Spokane-based borrower engaged Gantry Spokane to explore take-out financing for the recently stabilized property. Gantry presented several possible options including agency financing, local lenders, Wall Street, life insurance companies, and others. Mr. Koston closely worked with the borrower to select a lender and structure the most attractive solution available. While specific terms of the financing were not disclosed, all property debt was successfully refinanced.
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.