Property Type Multi-Family
Financing Type Acquisition
Date February 25, 2019
The sponsor’s loan includes interest-only payments followed by a 30-year amortization and some added prepayment flexibility in the last two years of the loan term.
FEBRUARY 25, 2019
PHOENIX, AZ – Gantry, the largest independent commercial mortgage banking firm in the U.S., has arranged $25,440,000 in financing for a 188-unit multifamily property located in Las Vegas, NV. Conveniently located near the Beltway (215) and the U.S. 95 Interchange, this gated community offers 1, 2, and 3 bedroom apartment units. The borrower intends to invest more than $1.8 million in capital improvements which includes enhancing the pool area, fitness center, clubhouse, and unit interiors.
Adam Parker, Principal, and Chad Metzger, Associate Vice President, of Gantry’s Phoenix office, arranged the 7-year fixed-rate acquisition loan through an agency lender. The sponsor’s loan includes interest-only payments followed by a 30-year amortization and some added prepayment flexibility in the last two years of the loan term. This will be the ninth loan that Mr. Parker and Mr. Metzger have arranged for this repeat sponsor.
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 $12 billion represents over 1,300 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.