Gantry has arranged permanent financing in the amount of $17,500,000 for a 370 unit, class A, luxury apartment community located in South Tempe, Arizona.

George Mitsanas, Principal, Peter Hillakas, Vice President, and Doug Tisdale, Associate, of Gantry’s Los Angeles office, and Tim Storey, Principal, and Chad Metzger, Associate Vice President, in Gantry’s Phoenix office, arranged the fixed-rate, non-recourse financing for the borrower, a San Diego based development and management company with an emphasis on class A multi-family apartment communities located in California and Arizona. George Mitsanas has financed this property for the borrower twice before. The 10 year loan was placed with one of Gantry’s correspondent life insurance company lenders and provides for interest only during the first 5 years followed by a 30 year amortization.

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 George Mitsanas at (310) 846-5299, Peter Hillakas at (310) 846-5315, Tim Storey at (602) 374-7854, or Michael Heagerty at (415) 956-9854.