SEPTEMBER 3, 2019

PHOENIX, AZ – Gantry has arranged $25,000,000 in financing for mobile home communities in Truckee, CA and Kyle, TX. Coachland RV Park (pictured), located 20 minutes north of Lake Tahoe, is a 229-space, all ages mobile home and RV community. The property consists of primarily double-wide homes with the exception of a few single-wide homes and 131 RV sites. Lakeside Crossing, located 20 minutes south of Austin, is a 279-space premium family mobile home community. Both properties have an excellent array of amenities including clubhouses, swimming pools, and playgrounds.

Patrick Barkley, Principal, of Gantry’s Phoenix office, worked with the borrower in securing the non-recourse, bridge-financing with one of Gantry’s lending relationships. “This was a complex transaction and a unique property type. Finding a lender who understood the borrower’s business plan and property type were key in selecting a lender,” said Mr. Barkley. Gantry secured enough funds to refinance both properties and negotiated provisions to get the borrower additional dollars, which ultimately helped facilitate the sponsor in converting the RV space at Coachland RV Park to annual park models.

Gantry, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Gantry’s production, closing and servicing capabilities. Established in 1991, Gantry is currently staffed by over 75 employees in regional offices throughout the western United States. The company’s national servicing platform of $13 billion represents over 1,400 loans located in 40 states. Gantry is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.