Gantry has arranged permanent financing in the amount of $6,082,500 secured by a 9 acre multi-family property located in Wenatchee, WA. Demetri Koston, Vice President for Gantry in Washington, worked on behalf of the borrower to arrange the non-recourse loan.

The property is improved with 20 single-story buildings housing 112 individual apartment residences in a campus style setting. The property is located in central Wenatchee, a city known as the “apple capital of the world”. Gantry was hired on an exclusive basis to secure the most competitive terms available to refinance the existing debt plus transaction costs, and provide additional funds to address deferred maintenance. The full leverage loan also includes a two year period of “interest-only”. Gantry coordinated all aspects of the transaction and the loan was ultimately placed with one of Gantry’s correspondent lending relationships.

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 $8 billion representing 1,000 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.