Gantry, the largest independent commercial mortgage banking firm in the U.S., has recently secured a $12.1 Million permanent loan to finance the acquisition of a single-tenant industrial building located at 745 Andover Park E in Tukwila, Wash., a North Kent Valley suburb of the Seattle MSA. The 109,000-square-foot facility sits on 4.76-acres in what is one of the region’s top industrial submarkets, with near direct access to both I-5 and I-405 and ready access to the communities and logistics infrastructure of the greater Puget Sound region.

Gantry’s Mike Wood, Principal, and Tim Brown, Senior Associate, with the firm’s Seattle production office, represented the borrower, a private real estate investor. The 7.5-year, fixed rate, nonrecourse loan was secured through one of Gantry’s correspondent insurance company lenders and features an introductory interest only period followed by 30-year amortization for the remaining term. 

According to Gantry’s Mike Wood, “This was a time sensitive acquisition that started negotiations and due diligence in late 2024. We were able to lock a rate in November of last year to begin the formal purchase negotiations with a loan in place from one of our top insurance correspondents. That strategic move allowed the transaction to stay on track through a dramatic period of rate volatility at the close of 2024 into January of 2025 when the transaction concluded. Certainty of close is a paramount concern for any real estate investor committing to an acquisition. Rate lock at time of application points to a competitive edge for life company loans that can’t be ignored in a cycle defined by volatility, taking the rate mystery out of the capital stack component for an investor as they move through the various due diligence hurdles of a successful purchase-sale agreement.”