Gantry has recently arranged a 10-year term, 25-year amortization permanent loan in the amount of $1,000,000 in connection with the refinance of a multifamily student housing project located 0.6 miles north of the University of Arizona campus.   Ryan Johnson, Vice President in Gantry’s Tucson office, secured the financing on behalf of the borrower through one of its lending relationships. Specific terms of the loan were not disclosed.

The security consists of a 58 unit multifamily property, with a concentration of student tenants. Since acquisition of the property in 2012, the property has gone through extensive renovations including new landscaping, the exterior of each building being re-painted and individual unit remodels. The amenities within the community include a pool, high speed internet throughout the property, a credit card operated laundry facility, on-call maintenance, and copy and fax services.

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 $7 billion representing 900 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 Ryan Johnson at 520-305-3222 or Michael Heagerty at 415-956-9854.