Property Type Multi-Family
Financing Type Construction
Date September 12, 2019
One Lakeside Center is a fifteen story tower that features 69 residential units, parking garage, and a commercial suite on the ground floor. In addition, the property is located one block off the water’s edge of Lake Coeur d’Alene.
SEPTEMBER 12, 2019
COEUR D’ALENE, ID – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured $22 million of development and construction financing for a luxury 15-story residential tower on the north shore of Lake Coeur d’Alene in Northern Idaho.
Demetri Koston, Principal with Gantry’s Spokane office, arranged the financing on behalf of the borrower. The loan was placed with one of Gantry’s national bank lenders based in New York.
“This was a very complicated and sophisticated transaction for a variety of reasons,” said Koston. “None more than explaining the unique and appealing fundamentals of a highly localized class A market. The borrower chose to work with Gantry because of our local presence and financing expertise. In turn, we were able to work with a key national banking relationship and make them comfortable with the superior local market fundamentals plus the highly qualified sponsorship. This is a generational project and Gantry is thrilled to be a part of the process.”
One Lakeside Center is a fifteen story tower that features 69 residential units, parking garage, and a commercial suite on the ground floor. In addition, the property is located one block off the water’s edge of Lake Coeur d’Alene, and steps away from a large city park and beach. In addition to the boutiques and restaurants of the historic downtown, spectacular views underscore the exceptional location for this property.
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 75 employees in regional offices throughout the western United States. The company’s national servicing platform of $13 billion represents over 1,400 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.