Property Type Retail
Financing Type Permanent
Date January 20, 2016
Demetri Koston, Vice President of Gantry’s Spokane, WA office has arranged permanent financing secured by Regal Plaza, a newly constructed multi-tenant retail center in Spokane, WA.
Demetri Koston, Vice President of Gantry’s Spokane, WA office has arranged permanent financing secured by Regal Plaza, a newly constructed multi-tenant retail center in Spokane, WA. The $8,500,000 loan has a fixed-rate term that fully amortizes over the 20 year period of the loan. The loan was placed with one of Gantry’s life insurance company lenders. The retail center is fully leased and anchored by a new Target, which opened in July 2014 (not part of security). The center is located on the South Hill of Spokane, one of the most highly coveted submarkets in the Inland Northwest. The center has a complimentary mix of tenants including PetSmart, Anthony’s Beach Café, MOD Pizza, Numerica Credit Union, and others. Gantry was able to place the permanent loan and lock the rate while the center was still under construction and in lease-up. 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 over 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.