Gantry has arranged permanent financing in the amount of $7,500,000 secured by a 13.20 acre lot. The security is located in Spokane,WA and is leased on a long-term basis to Lowe’s. Demetri Koston, Vice President for Gantry in Spokane, worked on behalf of the borrower, to arrange the 20-year term, fixed rate, non-recourse financing through a correspondent life insurance company. The loan will fully amortize over the 20 year fixed rate term. Gantry will service the loan.

While Lowe’s corporate credit is highly sought after in the capital markets, this particular transaction posed some unique and significant financing challenges related to the lessee, timing of occupancy, and relatively smaller market. Gantry effectively identified the lender best suited to overcome the challenges and meet the borrower’s objectives. Furthermore, the lender is a “par lender”, meaning no lender fees were incurred.

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 November 1991, Gantry is currently staffed by over 50 employees in regional offices throughout the western United States. The company services over $6 billion representing 800 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 Demetri Koston at 509-720-6364 or Michael Heagerty at 415-956-9854.