Working on an exclusive basis, Gantry has arranged a 5 year, $4,087,000 loan for the acquisition of 102-units within the 204-unit Timberline Place.

Tim Storey and Patrick Barkley, Principals of Gantry’s Phoenix office, worked with the buyer and arranged the acquisition financing with a local bank. Specific terms of the loan were not disclosed.

The Class A apartment/condominium complex was developed in 2000 and converted to condominiums in 2006 after an extensive upgrade. 102 of the units were sold from 2006 to 2010. The subject offers four different floor plans and each unit features 9-foot ceilings, alarm system, ceiling fans, full size washer/dryer, gas fireplace, complete kitchen and a private patio or balcony. Community amenities offered include heated pool and spa, outdoor fireplace and lounge, clubhouse with kitchen, flat screen television and java bar, fitness center, yoga studio, indoor basketball court, sauna and covered ramadas with barbecues and golf course views.

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, Patrick Barkley at 602-374-7806 or Michael Heagerty at 415-956-9854.