Property Type Multi-Family
Date October 12, 2016
The Freddie Mac financing was placed with an agency lender that features a 10-year term, at 4.48% that fully amortizes in 30 years.
OCTOBER 12, 2016
DETROIT, MI – Mitch Zeemont, Principal, and Darija Walker, Associate, of Gantry, have arranged $4,280,000 in financing for a 9 building, 189-unit apartment complex located in the Schulze District of Detroit. The Freddie Mac financing was placed with an agency lender that features a 10-year term, at 4.48% that fully amortizes in 30 years. After a solicitation on Strategic Alliance Mortgage (SAM), Gantry was able to co-sponsor the deal with Bernard Financial. The property sits on a 5.5-acre lot and is comprised of 96,420 leasable square feet with a unit mix of one and two bedroom apartments. The surrounding neighborhood is primarily residential with Marygrove College just a few blocks away.
Gantry is a full service mortgage banking firm with an impressive 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 approximately $9 billion representing over 1,100 loans. Gantry is 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. In 2015, Gantry arranged more than $2.3 Billion in loans for its clients.