Gantry has arranged take-out financing in the amount of $16,700,000 secured by a new 216 unit multi-family property located in Spokane Valley, WA. Skip Slavin and Demetri Koston, Vice Presidents for Gantry in Washington, worked on behalf of the borrower to arrange the 7-year term.

The property is ideally located along the Spokane River, with excellent access to area employment centers, destination retail, and nearby recreational amenities. Gantry has had an office located in Spokane since 2009, which greatly enhanced the ability to attract favorable institutional financing options for the borrower. Gantry presented several possible options to the borrower for consideration, and final placement was with one of Gantry’s correspondent lending relationships. No additional terms were made available.

Gantry is a full service mortgage banking firm with a strong 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 over $7 billion representing 900 loans. Gantry has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.

For more information on this transaction, please contact Skip Slavin at 206-816-6814 or Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.