Gantry has arranged acquisition financing in the amount of $39,000,000 for the $78,100,000 purchase of Westwood Town Center located in Seattle, Washington.

Westwood Village is a ‘lifestyle center’ with a gross leasable area of over 400,000 square feet located in the heart of West Seattle. In addition to a 100,000 square foot Target store, the center includes QFC, Barnes and Noble, Bed, Bath and Beyond, Staples, Marshalls and Rite Aid.   The property was originally built in the 1960’s and was extensively remodeled and expanded between 2002 and 2005.

Michael Taylor, a Principal in Gantry’s Seattle office, arranged the new financing with TIAA for the purchaser of the property, MEPT Westwood Village, LLC. Mr. Taylor had arranged financing for the previous owners in 2004 and he was able to negotiate new loan terms that worked for TIAA and accommodated the requirements of the new owner.

Gantry is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Gantry’s production, closing and servicing capabilities. In addition to arranging loans, Gantry is active in loan restructuring assignments through its debt advisory group. Established in November 1991, Gantry is currently staffed by approximately 50 employees in offices throughout the western United States.   The company services over $5.5 billion with nearly 800 loans. Gantry has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-bank / insurance chartered companies with this designation.

For more information on this transaction please contact Michael Taylor at (206) 816-6816, or Michael Heagerty at (415) 956-9854.