Property Type Multi-Family
Financing Type Acquisition
Date January 20, 2016
Gantry has arranged acquisition financing in the amount of $6,100,000, secured by two multi-family properties with 148 units located in Spokane, WA.
Gantry has arranged acquisition financing in the amount of $6,100,000, secured by two multi-family properties with 148 units located in Spokane, WA. Demetri Koston, Vice President for Gantry in Washington, worked on behalf of the borrower to arrange the two non-recourse loans. The two properties are identified as Chateaux Apartments and Randolph Arms, both in Spokane. Both properties are uniquely located; Chateaux is near downtown, Riverside Park, and Gonzaga University, while Randolph is adjacent to Spokane Community College. Both locations offer simple access to a variety of local amenities. Further, both properties have unique history; Chateaux was built at the time of Expo ’74, while Randolph was converted from a military housing facility many years ago. Working on an exclusive basis, Gantry provided several competitive options to the borrower. Final loan placement was with one of Gantry’s correspondent lending relationships. 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 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