Property Type Office
Date January 18, 2016
Gantry has arranged financing in the amount of $3,800,000 for Rosauers Plaza located in Spokane, Washington. Rosauers Plaza is one of the premier commercial properties in the South Hill area of Spokane.
Gantry has arranged financing in the amount of $3,800,000 for Rosauers Plaza located in Spokane, Washington. Rosauers Plaza is one of the premier commercial properties in the South Hill area of Spokane. The security for the loan includes both Rosauers Plaza and Hastings Plaza, together totaling over 120,000 SF of prime retail space. The two adjacent retail centers are located on almost 10 acres along 29th Avenue, a main arterial through the South Hill area. The land was developed in several phases by the owner’s family beginning in 1978. Demetri Koston, a Vice President for Gantry, opened a Spokane office in 2009 as an expansion of its Seattle office to serve the Inland Northwest. Mr. Koston secured non-recourse financing for the owners with one of Gantry’s correspondent life insurance companies. The interest rate for the loan was fixed for a period of 15 years, and is amortized over a 15 year period. Additional loan terms were not disclosed. 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 contact Demetri Koston at (509) 378-8596 or Michael Heagerty at (415) 956-9854.