Gantry has arranged permanent financing in the amount of $91,000,000 on a portfolio of 13 retail properties located throughout the greater Seattle area for a private investor.

The 500,000 square foot portfolio of properties includes four grocery anchored centers and several well-located neighborhood retail properties. Properties within the portfolio range from QFC, Albertson’s and Whole Foods anchored shopping centers to a single tenant bank branch.

Michael Taylor, Dan Lowen and Patrick Taylor in Gantry’s Seattle office, worked together to arrange the financing for the property owners through Principal Real Estate Investors, one of the largest institutional real estate investors in the United States.

“We were attracted to the strong geographic and leasing characteristics of the 13 properties in this portfolio very early on in the process,” said Jeremy Driscoll, Investment Officer at Principal Real Estate Investors. “The Gantry team, borrower and our staff did an excellent job, ensuring everything went smoothly from start to finish.”

Because of the low leverage loan request, strong sponsorship and quality of the assets, there were multiple lenders interested in providing the financing. “Principal Real Estate Investors pursued the loan from the start,” said Mike Taylor, a principal with Gantry, “The borrowers had a very high level of confidence that Principal Real Estate Investors would get the deal funded per the terms quoted. All sides were very happy with the transaction.”

Principal Real Estate Investors manages or sub advises $38.4 billion in commercial real estate assets. The firm’s real estate capabilities include both public and private equity and debt investment alternatives. Principal Real Estate Investors is the dedicated real estate group of Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group.

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 originates loans through seven regional offices throughout the western United States. The company services a portfolio of over $6.5 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-banking / non-insurance chartered companies with this designation.

For more information on this transaction please contact Michael Taylor at (206) 816-6816, Patrick Taylor at (206) 816-6808, Dan Lowen at (206) 816-6805 or Michael Heagerty at (415) 956-9854.