Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $13.5 million permanent loan to refinance maturing debt and return several million in equity for the Hampton Inn & Suites located at 21109 66th Ave S in Kent, just south of Seattle. The four-story, 95-room property encompasses 60,500 square feet at a location less than five miles from the Seattle-Tacoma International Airport with nearby major employers including Amazon, Boeing, Flow International, and Sysco. The new loan retires maturing debt and returns investor equity following a successful comprehensive performance improvement plan.

Gantry’s Drit Shoemaker, Director, with Gantry’s Seattle production office represented the borrower, a private real estate owner / manager. The five-year, synthetically fixed rate loan was provided by a regional bank and features 25-year amortization.

According to Gantry’s Drit Shoemaker, “Be it construction, bridge or refinance, Gantry continues to present best-in-market financing solutions for hospitality properties from our extensive roster of vetted and ready lenders. Many hospitality assets have been challenged by post pandemic disruption to travel patterns and workstyle shifts. For this Hampton Inn location, the success of a recently completed strategic performance improvement plan helped grow and improve metrics for debt service and valuation. Gantry’s ability to fully articulate this improved performance over historical challenges generated interest with a regional bank able to meet sponsorship’s long-term investment plans and performance goals.”