Gantry has arranged construction-to-permanent financing in the amount of $100,000,000 for two to-be-constructed, class A, luxury apartment communities located in Portland, OR and Glendale, CA.

George Mitsanas, Principal, Peter Hillakas, Vice President, and Amit Tyagi, Associate, of Gantry’s Los Angeles office, arranged the fixed-rate, non-recourse (during permanent loan term) financing for the borrower who is an experienced luxury apartment developer and operator. The 12 year loan was placed with one of Gantry’s correspondent life insurance company lenders and provides for interest-only during the three year construction term followed by a 30 year amortization. The loan will be serviced by Gantry.

“Gantry’s team has decades of experience in raising capital for apartment projects throughout the west coast and beyond. Over the years we have capitalized projects ranging from affordable housing to high-end residential towers. A large number of these residential projects are part of our servicing portfolio which really helps understand our markets, with regard to actual performance.”
-George Mitsanas, Principal of Gantry

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 60 employees in regional offices throughout the western United States. The company services approximately $8 billion representing over 900 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 George Mitsanas at (310) 846-5299, Peter Hillakas at (310) 846-5315, or Michael Heagerty at (415) 956-9854.