Life Company Loan Offers Sub 3% Rate with 10-Year Term for Fully Stabilized Cooper 202 Apartments in Chandler; While Investment Sales Market for Sunbelt Multifamily Remains Hot, Many Owners Option to Refinance at Today’s Superlative Rates for Legacy Hold Strategy

Chandler, Ariz. – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured $40 million to refinance the Cooper 202 Apartments, a fully-stabilized 332-unit multifamily community in Chandler with ready access to the Phoenix Region’s 202 Loop Freeway. Originally developed in 2016, the modern Class A property expansive grounds features one-, two-, and three-bedroom units with designer details and premium interior upgrades, two resort style pools with spas, premium two-story fitness center with yoga studio, outdoor sand volleyball courts, and a dog park and spa on property.

Gantry Principal Tim Storey with the firm’s Phoenix production office secured the loan on behalf of the borrower, Scottsdale-based NextGen Apartments. The loan was secured through one of Gantry’s correspondent life company lenders, with terms rewarding the borrower’s low leverage requirement with a sub-3% rate and interest only payments for the life of the loan.

According to Gantry’s Tim Storey, “In the current cycle, multifamily remains one of the most desirable targets for investors, with metro Phoenix seeing an unprecedented amount of interest from a global investment community. The abundance of capital chasing quality assets offers compelling reasons to sell or hold depending on investment and operative goals. For an owner preferring a legacy hold strategy over an asset sale, the current climate of generationally low interest rates, especially for sponsors seeking loans for modern properties at low leverage, make refinancing high-quality properties such as Cooper 202 a strategic move for generating long-term value and returns. With the market fundamentals of the Chandler region continuing to demonstrate strong job growth and sustained rent growth, our client is well positioned to capitalize on the continued performance of Cooper 202 for the decade ahead.”