Property Type Multi-Family
Date January 19, 2016
Gantry has arranged refinancing in the amount of $10,563,000 for the Murray Manor Apartments located in La Mesa, California.
Gantry has arranged refinancing in the amount of $10,563,000 for the Murray Manor Apartments located in La Mesa, California. The subject property is a 218 unit walk-up apartment complex built in 1971.
Thomas Dudley, a Principal in Gantry’s Irvine office, arranged the financing under the HUD Section 223(a)(7) program as the borrower was looking to take advantage of current historically low rates. Terms and pricing 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. In addition to arranging loans Gantry is active in loan restructuring assignments through its Debt Advisory Group. Established in November 1991, Gantry is currently staffed by approximately 50 employees in offices throughout the western United States. The company services nearly $6 billion comprised of approximately 800 loans. Gantry has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-bank / insurance chartered companies with this designation.
For more information on this transaction please contact Thomas Dudley at (949) 777-9033, or Michael Heagerty at (415) 956-9854.