Property Type Retail
Financing Type Permanent
Date January 20, 2016
Demetri Koston, Vice President of Gantry’s Spokane, WA office has arranged permanent financing secured by a newly constructed grocery store in Spokane Metro.
Demetri Koston, Vice President of Gantry’s Spokane, WA office has arranged permanent financing secured by a newly constructed grocery store in Spokane Metro. The $3,300,000 loan has a fixed-rate term of 25 years and the loan fully amortizes over the 25 year period. The loan was placed with one of Gantry’s life insurance correspondent lenders. The loan will be serviced by Gantry. The property is over 5 acres of land and located on the main highway thru the local submarket known as Suncrest. The new grocery store is full-service and includes a meat and seafood counter, bakery and deli with seating area, fireplace, and wifi. In addition, there is a fuel center, which will be included in the Commercial Fueling Network, or CFN. The new store has hired about 50 new employees from the local area. 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 $8 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. For more information on this transaction please contact Demetri Koston at (509) 720-6364, or Michael Heagerty at (415) 956-9854.