On The Park
January 19, 2016
Gantry has arranged permanent financing in the amount of $40,000,000 for On the Park Apartments located in Seattle, Washington.
On the Park is a mixed-use apartment community with 268 units located on 6 floors above a 44,598 square foot QFC grocery store.
Situated one block north of Ballard’s restaurant and shop scene and 10 minutes north of the Seattle CBD, On the Park is located in one of Seattle’s most desirable residential neighborhoods.
Michael Taylor, a Principal in Gantry’s Seattle office led a team which included George Mitsanas, a Principal in Gantry’s Los Angeles office and Patrick Taylor, an Associate in Gantry’s Seattle office. Together, they worked on an exclusive basis to secure financing for the property owner, SP/BIT Ballard on the Park, LLC, with one of Gantry’s correspondent lenders. Due to the quality of the asset, the strength of the sponsorship, and the modest leverage request, lender interest in the financing was extremely competitive.