Property Type Multi-Family
Financing Type Structured
Date December 19, 2019
The project site is located 20-miles west of the Metro Phoenix. Gantry represented the sponsor, securing the best option for long-term financing that reflects strategic improvements.
Gantry (formerly Newmark Realty Capital, Inc.), the largest independent commercial mortgage banking firm in the U.S., has secured $4.1 Million in structured financing for a 99-site manufactured housing community in Litchfield Park, Arizona currently holding at 98 percent occupancy. The project site is located 20-miles west of the Metro Phoenix. Gantry represented the sponsor, securing the best option for long-term financing that reflects strategic improvements to: the community clubhouse, now featuring a new kitchen area, billiards room, a lounge, and all new fitness area; and a newly remodeled resort-style swimming pool complete with remodeled restrooms and shower.
Patrick Barkley, Principal in Gantry’s Phoenix office, worked with the borrower to arrange the non-recourse, 10-year interest only loan from a Gantry lender that best met the sponsorship’s ownership and investment goals. Pricing and other terms were not disclosed.
At San Francisco-based Gantry, independent thinking is in our genes. As an independent firm, we take a thoughtful and intentional approach to everything we do. So, as our industry consolidates and becomes less personal, we push ourselves to ignore convention, to set a high standard and to always prioritize people ahead of profits. With 30 years of experience, a $13 billion national servicing portfolio, we’re committed to constructing the best deals for our clients. For those seeking a partner that delivers more, we’re a little different. The right kind of different.