Property Type Multi-Family
Date September 4, 2018
Mr. Parker and Mr. Metzger were able to arrange this acquisition loan through a debt fund, which allowed for an initial funding of approximately $2,535,000 used to acquire the asset.
SEPTEMBER 4, 2018
PHOENIX, AZ – Located just west of the North Central Phoenix neighborhood, Gantry has arranged $4,120,000 in financing for the Phoenician Townhouse. Prior to acquisition and loan closing, the 44-unit property operated as a condominium complex ever since it was originally constructed in 1964. Adam Parker, Principal, and Chad Metzger, Associate Vice President, of Gantry’s Phoenix office, were able to arrange this acquisition loan through a debt fund, which allowed for an initial funding of approximately $2,535,000 used to acquire the asset. In addition, the loan offers the borrower a future funding facility that they can draw upon monthly to reimburse 100% of the property’s renovation costs.
Gantry, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Gantry’s production, closing and servicing capabilities. Established in 1991, Gantry is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 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.