Gantry (formerly Newmark Realty Capital, Inc.), the largest independent commercial mortgage banking firm in the U.S., has arranged $7.8 million of financing for the Sierra Grande Apartments & Suites located in Phoenix, AZ. The 179-unit apartment community consists of studios and one-bedroom floor plans specifically targeting the needs of professionals. The community is adjacent to the Paradise Valley and Biltmore submarkets, and features a host of lifestyle amenities and services including: heated swimming pool and spa, controlled access gates, clubhouse, business center, tennis courts, putting green, full covered parking and fully furnished unit options.

“Housing affordability, a strong regional economy and the growing professional workforce make Metro Phoenix multifamily fundamentals appealing to all of our lenders,” said Patrick Barkley, Principal of Gantry. “Gantry is committed to tailoring a solution for each assignment to ensure a unique solution is in place that reflects specific client goals.”

Barkley worked with the borrower to arrange the 10-year, fixed-rate loan through an agency lender. The loan includes interest-only payments for the full 10-year term. The sponsor has owned the property since 2005 and sought to take advantage of the current low interest rate environment to meet long-term ownership and investment goals. Pricing and other terms were not disclosed.

At San Francisco-based Gantry, independent thinking is in our genes. As an independent firm, we take a thoughtful and intentional approach to everything we do. So, as our industry consolidates and becomes less personal, we push ourselves to ignore convention, to set a high standard and to always prioritize people ahead of profits. With 30 years of experience, a $13 billion national servicing portfolio, we’re committed to constructing the best deals for our clients. For those seeking a partner that delivers more, we’re a little different. The right kind of different.