Seattle, Wash. – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a total of $13.1 million in acquisition financing for C.C. Filson’s (Filson) operations headquarters and flagship retail store at 1741 1st Ave S in Seattle, Wash. The funding supported the approximately $21 million purchase of the four-story, mixed-use office, retail and manufacturing space originally built in 1921 and extensively renovated in 2006.

Gantry’s Mike Wood, Principal, and Alex Saunders, Associate, with the firm’s Seattle production office identified and structured the loan on behalf of the borrower, a private real estate investor. The loan was placed through a national bank, with terms featuring full-term, interest-only payments at a competitive interest rate.

According to Gantry’s Wood “While the historic nature of the 1921 property and its mixed-use format presented some obstacles for underwriting, those issues were ultimately dealt with by the long-term lease and commitment from a credit tenant with more than 100 years of operative history. For any real estate owner investing or invested in the single-tenant net lease space, right now is the time to strategically review assets to take advantage of historically low rates and attractive terms for both new acquisitions and refinancing.”