SPOKANE, WA – Gantry has arranged permanent financing secured by Lincoln Heights, a stabilized grocery-anchored multi-tenant retail center in Spokane, WA. The financing was arranged by Demetri Koston and Skip Slavin, both Vice Presidents with Gantry in Spokane and Seattle, respectively. The $10,200,000 fully amortizing loan has exceptional terms including a 20-year fixed rate, flexible prepayment structure, and assumability. Further, the loan is non-recourse and does not require a personal guarantee from the borrower. The loan was placed with one of Gantry’s correspondent life insurance company lenders. As is typical with Gantry’s other correspondent lenders, there were no lender fees incurred by the borrower for this transaction and Gantry will service the loan.

The retail center is fully leased and anchored by Spokane’s first Trader Joes grocery store. The center also includes other national brands such as Petco, Jo-Anne Fabrics, Rite Aid, US Bank, KFC, Jimmy Johns, and others. The center is located on the South Hill of Spokane, one of the most highly coveted submarkets in the Inland Northwest. With the introduction of Trader Joes in 2011, the center has become one of the busiest retail sites in Spokane, and attracts shoppers from throughout the region.

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 $9 billion representing over 1,100 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.