Tim Storey, Principal of Gantry’s Phoenix office, arranged permanent financing in the amount of $15,000,000 in connection with the refinance of 300 units within a 440 unit luxury condominium project located in Tempe, Arizona. Gantry secured the financing on behalf of the borrower through a life insurance company. Specific terms of the loan were not disclosed.

The Class A, garden-style apartment/condominium complex was constructed in 1996 and converted to condos in 2006.     All units are condo-platted and a total of 140 units were sold between 2006 and 2008. The subject property consists of one, two, and three bedroom units and features gated access, state-of-art fitness center, clubhouse, covered parking, detached garages, a resort style pool and spa, indoor racquet ball court, lighted tennis court, putting green, and professional landscaped grounds.

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, please contact Tim Storey at 602-374-7854 or Michael Heagerty at 415-956-9854.