Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $17.5 million permanent loan to refinance maturing debt for an apartment community in southwest Portland, OR. The three-story, garden style community encompasses 178-units in a mix of one-, two-, and three-bedroom floorplans. The property offers ready access to the concentration of top regional employers in nearby Beaverton as well as Portland’s many urban attractions. The well-maintained, amenity rich property offers a clubhouse, pool and spa, and fitness center. Apartments include in-unit washer and dryer, gas fireplaces, and patios/balconies with carports and/or garages.

Gantry’s Blake Hering, Principal, Kristin Lapinskas, Senior Associate, and Abi Hunter, Associate, with the firm’s Portland production office represented the borrower, a private family office. The 10-year, non-recourse permanent loan was secured through a top life company lender from Gantry’s exclusive correspondent network and features 25-year amortization at an attractive fixed rate for a legacy hold. Gantry will service the loan.

According to Gantry’s Blake Hering, ““This is a great asset in a great location with excellent sponsorship.  The challenge was that this multi-phase development had three separate but related entities encumbering land and buildings. In the end, we secured the lender’s position with one deed and three notes.  Our correspondent lender was patient, flexible, and accommodating.  The borrower secured an excellent rate and terms. Win, win, win!”.”