Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured $27.8 million in financing to acquire a portfolio of eight Oakland multifamily properties. The properties represent a total of 255 apartment units and include three commercial units at one of the locations.

Gantry’s Jeff Wilcox, Principal, and Erinn Cooke, Senior Associate, with the firm’s San Francisco production office represented the borrower, a private real estate investor. The financing was structured as a three-year, variable rate acquisition loan provided by a single institutional debt fund. The instrument included prepayment flexibility, extension options and a very competitive interest rate.

According to Gantry’s Jeff Wilcox, “Long-term multifamily fundamentals continue to support investment interest in the Bay Area, and this transaction represented an opportunity to acquire a portfolio of mature assets with substantial upside potential at scale for an attractive price. Key to this acquisition was closing before year end, a goal met through a timely debt fund execution. Gantry’s ability to survey the full breadth of options available in the capital markets allowed us to optimize the cost of debt capital, the key to client investment success.”