Gantry has arranged permanent financing in the amount of $2,300,000 for Somerset Place Apartments.   The subject property located north of the Davis Monthan Air Force base and less than one mile from Gene C. Reid Park Zoo, consists of 160 one bedroom standard and deluxe units. The property features a pool, spa, barbecue area, controlled access, and laundry facility and was 92% occupied at closing.

Adam Parker, a Vice President of Gantry’s Phoenix office, arranged the financing on behalf of the borrower through a banking relationship. The loan will be used to refinance the borrower’s impending Fannie Mae loan maturity. Specific details of the financing were not disclosed.

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 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.