Property Type Multi-Family
Financing Type Refinancing
Date June 30, 2020
The largest of the transactions is $10,340,000 in financing arranged for the La Palma Apartments in Buena Park, CA.
Gantry, the largest independent commercial mortgage banking firm in the U.S., secured more than $19 million in financing for three apartment communities in Southern California. Jordan Simmonds, Director, in Gantry’s Newport Beach, CA office arranged the refinancing.
The largest of the transactions is $10,340,000 in financing arranged for the La Palma Apartments in Buena Park, CA. Also, in Orange County, $3,100,000 in financing was arranged for the La Habra Apartments in La Habra, CA. In the Inland Empire, Simmonds secured $5,596,000 in financing for the Lark Apartments in San Bernardino, CA.
Gantry’s Simmonds said, “There continues to be a healthy appetite for multifamily properties in key markets across Southern California. Demand remains high even as the volatility from the COVID-19 pandemic plays out across the region’s economy. Investors like the long-term prospects for this asset class because even before the health crisis emerged housing supply was constrained and is expected to remain so into the future.”
Since March 2020, Gantry has now closed 119 loans, totaling more than $762 million in loan volume. Category highlights for this most recent reporting period of 31 loans includes 10 multifamily financing deals totaling $70.5 million, five office loans totaling $51.8 million, eight retail financings totaling $29.7 million, five industrial loans totaling $29.1 million and two self-storage deals totaling nearly $12.2 million.