Gantry’s Los Angeles office arranged a $140MM refinancing of six multi-family properties totaling 1,906 units. The six apartment projects are located in Los Angeles, CA, Portland, OR, Denver, CO, Chicago, IL, Dallas, TX and Raleigh, NC.

Mark Ritchie, a Principal of Gantry, arranged this financing on behalf of his west coast based real estate fund client through Gantry’s 20 year correspondent, Great West Life. The financing had a seven year fixed rate and interest only component.

According to Mr. Ritchie, “The apartments were 95%+ occupied, institutional grade complexes at a 50% loan to value which made this an extremely competitive financing.” Great West’s combination of competitive rate, early rate lock and structure separated them from other market participants.

Assisting on the transaction were Gantry’s Associate Vice President, Bahman Mirhashemi, and Production Associate, Stacey Matwijiw-Coxon.

With offices in San Francisco, Los Angeles, Sacramento, Seattle, Irvine, Las Vegas 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. Established in 1991, Gantry is currently staffed by over 50 employees in seven regional offices throughout the western united states. The company services $6 billion of 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 the designation.

For more information on this transaction please contact Mark Ritchie at 310-846-5303 or Michael Heagerty at 415-956-9854.