Gantry, the largest independent commercial mortgage banking firm in the U.S., secured a $86,470,0000 loan to refinance a seven-property multifamily portfolio located in Arizona and Oklahoma.

Gantry’s Patrick Barkley, Chad Metzger, and Kevin Valenzuela represented the borrower, BWL Properties in the transaction. The 10-year, 5-year interest only, Fannie Mae loan was arranged through Wells Fargo.

Gantry’s Barkley said, “Completing a multi-state refinancing involving seven assets is a complex endeavor in normal times. As we all know, executing transactions during a global health pandemic introduces new levels of intricacy requiring a great lender and a lot of communication. We were able to navigate the challenges because we believed in the sponsor, we recognized the assets presented compelling investment stories and our great lender relationship brought a deeper understanding of the market dynamics that both Tucson and Oklahoma City are experiencing.”

The seven apartment complexes total 1,601 units, were built between 1972 and 1985, and are located in the Tucson and Oklahoma City MSA’s, respectively.