Property Type Mixed
Financing Type Permanent
Date March 23, 2020
The team arranged the 10-year term financing with the borrower, who is a local investor group and repeat client of Gantry.
Gantry, Inc., the largest independent commercial mortgage banking firm in the U.S., has secured two separate loans totaling $9.4 million of permanent financing for Union Bay Plaza and Madrona Plaza in Seattle, WA. Union Bay Plaza is a two-story mixed-use office and retail property located in the Laurelhurst neighborhood, just East of the University of Washington. Madrona Plaza is a three-story office property located in the Madrona neighborhood.
Demetri Koston, Principal of Gantry’s Spokane office, and Alex Saunders, Associate of Gantry’s Seattle office, arranged the financing with two different correspondent life insurance companies. The team arranged the 10-year term financing with the borrower, who is a local investor group and repeat client of Gantry.
Saunders noted, “The quoting process was competitive on Union Bay Plaza given the stable occupancy history and location near the main campus of the University of Washington. The winning lender ultimately offered a 30-year amortization and flexible prepayment structure beginning in the 5th year of the loan term.”
Gantry, a privately held company based in San Francisco, is a full-service commercial mortgage banking firm. Established in 1991 as Newmark Realty Capital, Gantry is staffed by 90 employees in its regional offices. Gantry is the correspondent/servicer on behalf of a roster of the leading life insurance, CMBS and Agency lenders in the nation, placing more than $4 billion per year in loans. Gantry’s national servicing platform exceeds $16 billion, representing more than 2,000 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.