Gantry Secures $12.5 Million of Financing for Acquisition of Washington Tech Company HQ

Single Tenant Industrial Building Occupied by End-to-End Technology Solutions Provider Redapt as Firm’s Operational Headquarters; Single Tenant Properties with Long-Term Leases in Place Continue to Attract Investor and Lender Interest with Industrial Product as a Preferred Asset Class

Seattle, Wash. – Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured $12.5 million of permanent financing for the acquisition of a 66,000-square-foot, single-tenant industrial building. The property is located at 14051 NE 200th St. in Woodinville, Wash., a suburb within the greater Seattle MSA. Technology service provider Redapt occupies the entire facility for their corporate office and production requirements.

Gantry’s Mike Wood, Principal, and Alex Saunders, Associate, with the firm’s Seattle production office secured the financing on behalf of the repeat borrower, a private real estate investor. The 10-year, fixed rate loan was secured through one of Gantry’s correspondent life company lenders.

According to Gantry’s Mike Wood, “While we have seen a struggle between buyers and sellers to find harmony in today’s volatile market climate, we are seeing transactions return as price equilibrium emerges moving into the homestretch of 2022. For quality sponsors, life company lenders continue to be a stable resource for attractive fixed rate, long-term financing for acquisitions or refinances in this current environment. We continue to see the best rates offered to industrial assets that feature strong tenants with long-term leases in place.”