Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $15.5 million permanent loan for the Lee Johnson Nissan of Kirkland auto dealership located at 11930 124th Ave NE, in the city of Kirkland, a suburb of Seattle. The 3.28-acre property features a nearly 14,000-square-foot showroom and auto service building with remaining acreage serving as vehicle storage and display. The Lee Johnson Auto Group operates eight dealerships in the King County/ Seattle region.

Gantry’s Demetri Koston, Principal, and Michael Taylor, Principal, with the firm’s Spokane and Seattle, Wash., production offices secured the loan on behalf of the borrower, a private real estate investor. The five-year, fixed rate loan features 30-year amortization. Gantry will service the loan.

According to Gantry’s Demetri Koston, “Gantry has developed a depth of experience handling finance assignments for auto dealership commercial real estate assets. These unique facilities can often be challenging to underwrite accurately to achieve maximum proceeds, a complex process blending facilities and operations value with underlying land values. Gantry continues to work closely with the Lee Johnson Group throughout King County at their auto dealership properties to secure optimized financings from our correspondent lenders. This is achieved by clearly articulating operational performance for debt service, accurate land valuation, and sponsorship stability and other strengths during underwriting.”