Property Type Multi-Family
Date August 22, 2017
$36.66 million in permanent financing secured for a 400+ pad, 55 and older, 5-star manufactured home community located on approximately 72 acres. $20.89 million loan for the acquisition of the 55 and older, 730-space RV park model resort located on approximately 42 acres in Apache Junction.
AUGUST 22, 2017
Commercial Mortgage Banking Firm Funds Nearly $360 Million of Transactions in the state of Arizona Since Beginning of Year; $70.5 Million are Manufactured Home Communities
PHOENIX, AZ – Gantry, the largest independent commercial mortgage banking firm in the western U.S., has secured $57.55 million in new long-term financing for two separate manufactured home communities in Apache Junction, Arizona. Patrick Barkley, Principal, and Chad Metzger, Associate Vice President, worked with the borrower in arranging non-recourse financing with two of Gantry’s agency relationships. Pricing and other terms were not disclosed.
“High quality manufactured home and park model communities have proven year in and year out to be one of the premiere property types in any economic cycle. Our lenders aggressively pursued these loan opportunities and closed ahead of schedule.”
-Patrick Barkley, Principal
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 $10 billion represents over 1,200 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