Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $23 million permanent loan to refinance the Mission Hills Apartments located at 11900 NE 18th St in Vancouver. The property includes 556-units in a garden-style format, featuring a mix of one-, two, and three-bedroom units in multiple buildings on approximately 33-acres including a club house, pool & spa, and other Class A amenities. This loan retires two maturing loans placed on different phases of the property.

Gantry’s Blake Hering, Principal, and Abi Hunter, Associate, with the firm’s Portland production office represented the borrower, a private real estate family. The 10-year, fixed rate loan was secured through one of Gantry’s correspondent life company lenders and features non-recourse terms a 30-year amortization.

According to Gantry’s Blake Hering, “Multifamily remains one of the most sought-after asset classes for lenders. A stabilized, high-quality asset like Mission Hills operated by an experienced sponsor elicits the market’s best pricing. Ultimately one of our exclusive Life Insurance Company Lenders offered terms that were unmatched.”