Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $16.5 million permanent loan to support the purchase of Meadowlark Industrial Center located at 404 N. Holladay Street in Cornelius, Ore., a key industrial submarket in Portland’s fast-growing Silicon Forest technology corridor. Recently completed in 2024, the modern, class A property is 100% occupied by a single tenant and sits on approximately 7.35-acres. The property serves as a key regional location for a leading Pacific Northwest heavy equipment transporter and serves as both traditional warehouse and specialized uses including abundant parking and storage.

Gantry’s Paddy Ryan, Principal, Kristin Lapinskas, Senior Associate, and Hrishi Bukshin, Associate, with the firm’s Seattle and Portland production offices represented the borrower, a private real estate investor. The 12-year loan was secured from one of Gantry’s correspondent life company lenders and features 30-year amortization. Gantry will service the loan for the lender.

According to Gantry’s Paddy Ryan, “Industrial property continues to be one of favored asset classes for lender allocations in the current marketplace. This low leverage request to finance the acquisition of a class A asset occupied by a credit tenant in a long-term lease resulted in several competitive options for a permanent loan when placed in front of Gantry’s exclusive roster of correspondent life company lenders. Life companies remain one of the best sources available for stable, long-term debt and certainty of close. Ultimately, our team’s survey of the full spectrum of relevant options resulted in securing a 12-year permanent loan at an attractive fixed rate ensuring stability for a legacy hold.”