Property Type Mixed
Financing Type Bridge
Date May 22, 2020
Located in the heart of Tacoma’s Brewery District, the newly built Brewery Blocks features 49 apartment units over 31,000 square feet of commercial space.
Tacoma, WA – Gantry, the largest independent mortgage banking firm in the U.S., has arranged $17,000,000 in financing for Brewery Blocks in Tacoma, WA. Located in the heart of Tacoma’s Brewery District, the newly built Brewery Blocks features 49 apartment units over 31,000 square feet of commercial space.
Mike Wood, Principal in Gantry’s Seattle office, worked with the borrower, Horizon Commerce Partners, LLC. (Horizon Partners NW), in securing the 3-year bridge loan with a West Coast-based life insurance company. “The borrower was seeking a bridge loan to pay off their existing construction loan that was coming due,” said Wood.
Gantry, a privately-held company based in San Francisco, is a full-service commercial mortgage banking firm. Established in 1991 as Newmark Realty Capital, Gantry is staffed by 90 employees in its regional offices. Gantry is the correspondent/servicer on behalf of a roster of the leading life insurance, CMBS and Agency lenders in the nation, placing more than $4 billion per year in loans. Gantry’s national servicing platform exceeds $16 billion, representing over 2,000 loans located in 40 states. Gantry is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance-chartered companies with this designation.