Gantry, the largest independent commercial mortgage firm in the U.S., has secured an $8.5 million permanent loan to refinance the Rose Garden Apartments located at 21008 N 23rd Ave in Phoenix. The class B, garden-style apartment community includes 55 total units, featuring a mix of one- and two-bedroom floorplans. 

Gantry’s Adam Parker, Principal, Chad Metzger, Senior Associate, and Andrew Christopherson, Associate, with the firm’s Phoenix production office represented the borrower, a private real estate investor. The 10-year, fixed rate loan was secured from Fannie Mae and features half-term interest only transitioning to 30-year amortization at year six.

According to Gantry’s Adam Parker, “On every client assignment, Gantry’s goal is to identify the best financing option to meet a client’s specific investment plan. This new agency loan provided the Sponsor with some cash-out while also lowering the Sponsor’s interest rate.  Even at a higher loan amount, the new 10-year fixed rate loan provided a lower annual payment which meant more cash flow for the Sponsor.  The combination of cash-out dollars, lower annual payment, and a 10-year fixed rate met all the borrower’s requests.”