Property Type Multi-Family
Date January 19, 2016
Gantry has arranged take-out financing in the amount of $22,475,000 secured by a new multi-family property located in Washington State.
Gantry has arranged take-out financing in the amount of $22,475,000 secured by a new multi-family property located in Washington State. Demetri Koston, Vice President for Gantry in Washington, worked on behalf of the borrower to arrange the 12-year term.
The property is well located with high quality construction, which attracted a variety of institutional capital sources. Gantry worked on behalf of the borrower to identify some of the most competitive options available in today’s marketplace. Ultimately, the borrower selected a correspondent lender (of Gantry), and the loan was fully funded immediately upon the property reaching stabilization.
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 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.