Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $13.65 million permanent loan to refinance maturing debt for Parkway Village at Sherwood located at 21174-21430 SW Langer Farm Parkway in Sherwood, a Portland suburb approximately 15 miles from the city center. The 45,653-square-foot power center is anchored by Walmart, with a range of marquee tenants including Starbucks, Chipotle, The Old Spaghetti Factory, Panera Bread, Crumbl Cookies, Club Pilates, Legacy GoHealth Urgent Care, and other restaurants and service providers.

Gantry’s Blake Hering, Principal, and Kristin Lapinskas, Senior Associate, with the firm’s Portland production office represented the borrower, a private real estate investor. The seven-year, fixed rate, non-recourse loan was secured from one of Gantry’s life company correspondents with 30-year amortization. Gantry will service the loan for the lender.

According to Gantry’s Blake Hering, “Gantry’s life company correspondents continue to be a consistent source for high-quality loans with substantial allocations available for stabilized grocery anchored and neighborhood retail centers where debt service aligns. Their appeal begins with rate lock at application, making them particularly attractive in a volatile rate climate. They also compete aggressively on spread and process efficiency. Parkway Village at Sherwood is an exceptional asset with a documented performance record as one of its community’s top retail destinations. Working with experienced sponsorship we were able to secure the desired proceeds and position the center for a stabilized legacy hold.”