Property Type Multi-Family
Date January 19, 2016
Gantry has arranged permanent financing in the amount of $16,400,000 for the Shadow Hills at Lone Mountain apartments located at 3501 Shady Timber Street, Las Vegas, Nevada.
Gantry has arranged permanent financing in the amount of $16,400,000 for the Shadow Hills at Lone Mountain apartments located at 3501 Shady Timber Street, Las Vegas, Nevada. Christopher Funai, a Vice President in the Las Vegas office, procured the loan which was funded through an FHA-sponsored program and refinanced a mini-perm loan that had matured in late 2009. Terms of the 35-year, fully amortizing loan include a fixed interest rate of 5.20% and allowed the borrower to pull cash out of the project. The garden-style property was built in 2002 and includes a large clubhouse with a fully-equipped gym, a luxurious entertainment room, and a business center. The complex also has a large, central pool with spa, cabanas and barbeques. With offices in Las Vegas, San Francisco, Sacramento, Seattle, Los Angeles, Irvine and Phoenix, 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 seven regional offices throughout the western United States. The company services over $5 billion with nearly 800 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 Christopher Funai at (702) 304-0437 or Michael Heagerty at (415) 956-9854.