MAY 18, 2017

SPOKANE, WA – Gantry™ has arranged financing in the amount of $5,300,000 secured by a stabilized student housing property with 33 residential units totaling 132 individual rooms. The property serves students at Appalachian State University in Boone, North Carolina. The property was originally built in 2011, which includes 3 buildings on nearly 4 acres. The financing was arranged by Demetri Koston, Vice President for Gantry in Spokane, Washington.

The loan was arranged to help fund the acquisition, which included a 1031 exchange. As a result, the transaction had a rigid timeline and highly defined requirements. Gantry identified the lender best-suited for the transaction, given the specialized property type in a relatively small metro area. Ultimately, Gantry arranged the financing with one of its correspondent lenders and will service the loan on behalf of the lender.

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 60 employees in regional offices throughout the western United States. The company services nearly $10 billion representing over 1,100 loans located throughout the country. 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.