Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $27.8 million permanent loan to refinance maturing debt for the Hazel Dell Marketplace, a grocery anchored center located at 408 - 512 NE 81st St in Vancouver, Wash. The 28-acre property offers 227,680 rentable square feet across 11 buildings featuring big box tenants including Safeway, Ross, Marshalls, and Parkrose Hardware, and a wide range of inline and free-standing pad restaurant, professional service, beauty, and health and wellness tenants.

Gantry’s Blake Hering, Principal, and Abi Hunter, Associate, with the firm’s Portland production office represented the borrower, a family office owner and developer partnership between two well established family office groups. The fixed rate, ten-year loan was secured from one of Gantry’s exclusive correspondent life company lenders and features and introductory interest only period and then 30-year amortization at an attractive rate well within debt service coverage. Gantry will service the loan.

According to Gantry’s Blake Hering, “Community-serving retail continues to demonstrate strong performance trends attractive to Gantry’s correspondent life company lenders. Hazel Dell is a standout performer in Vancouver with a strong roster of popular retailers and restaurants with high occupancy across the center’s inline and pad buildings.”