Gantry (formerly Newmark Realty Capital, Inc.), the largest independent commercial mortgage banking firm in the U.S., has arranged $17.80 million of permanent financing for Central Business Park (“CBP”), a 500,000-square-foot industrial property located in the heart of the Spokane Valley in Eastern Washington.

Demetri Koston, Principal with Gantry’s Spokane office, and Skip Slavin based in Gantry’s Seattle office worked together to source the financing on behalf of the borrower. The loan was placed with one of Gantry’s life insurance company lenders. The borrower had a unique set of objectives including locking the rate for a long period to take advantage of the historic lows in the cost of capital, help maintain cash flow after debt service, and provide maximum loan flexibility. Gantry worked with the lender to deliver to the borrower’s specs, all on a non-recourse basis, with no structure or reserves.

The CBP is a very well-operated multi-tenant industrial property originally built in 1979 on almost 30 acres. The property includes warehouse and office space, some controlled environments, many loading docks and ample parking. The property is in an exceptional location and highly sought after by a variety of users. Overall, the industrial market in Spokane Metro is extremely strong with increasing demand. The existing strength of the market is reflective in the rents and occupancy, both trending very positively and supporting new development opportunities.

At San Francisco-based Gantry, independent thinking is in our genes. As an independent firm, we take a thoughtful and intentional approach to everything we do. So, as our industry consolidates and becomes less personal, we push ourselves to ignore convention, to set a high standard and to always prioritize people ahead of profits. With 30 years of experience, a $13 billion national servicing portfolio, we’re committed to constructing the best deals for our clients. For those seeking a partner that delivers more, we’re a little different. The right kind of different.