Gantry has arranged permanent refinancing in the total amount of $3,000,000 for a 49-unit apartment complex located in San Diego, California.

James Dick, a Vice President with Gantry, arranged the refinancing for the property with a correspondent insurance company. The insurance company was able to lock the rate at the loan application signing, thereby eliminating the risk that the rate would increase while the loan request was being processed. Terms and pricing were not disclosed.

Gantry is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Gantry’s production, closing and loan 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 located in seven regional offices throughout the Western United States. The company services over $5.5 billion in mortgages for various lender/investor clients. Gantry is a Standard and Poor’s rated Primary Servicer and is one of a select few non-banking/non-insurance chartered companies with this designation.

For more information on this transaction please contact James Dick at (858) 794-1418 or Michael Heagerty at (415) 956-9854.