Property Type Mixed
Financing Type Permanent
Date June 24, 2016
$40,000,000 for a 2009 construction, 268-unit apartment complex with 43,000 square feet of ground floor retail in the Ballard neighborhood of Seattle.
JUNE 24, 2016
SEATTLE, WA – Gantry has arranged permanent financing in the amount of $40,000,000 for a 2009 construction, 268-unit apartment complex with 43,000 square feet of ground floor retail in the Ballard neighborhood of Seattle. The ground floor retail consists of a 42,000 square foot grocery store and another small retail tenant.
George Mitsanas, Principal, in Gantry’s Los Angeles office, and Mike Taylor, Principal, in Gantry’s Seattle office, arranged the fixed-rate, non-recourse financing for the borrower. Gantry has financed this property once before. The 10 year loan provides for interest only for the entire term. Gantry will also service the loan.
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 nearly $9 billion representing over 1,000 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.