Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $32.5 million permanent loan as construction takeout financing for the Edison at Tiffany Springs, a class A multifamily community delivered in 2022 and located in Kanas City’s dynamic Tiffany Springs/Northland region. The property features seven three-story buildings offering 243 one-, two-, and three-bedroom units in a mix of unique floorplans. Amenities include a clubhouse with resort-style pool, pickle ball court, golf simulator, fireplace pavilion with TV, grilling stations, fire pits, a gazebo, walking paths and a mix of 72 garages and 337 surface parking spots. In-unit finishes feature nine-foot ceilings, modern kitchens with stainless steel appliances and granite countertops, washers and dryers, plank flooring throughout, walk-in showers, and private patios/balconies.

Gantry’s Joe Monteleone, Principal, and Bonnie Monteleone, Senior Associate, with the firm’s St. Louis production office represented the borrower, a private real estate investor. The 10-year, fixed rate, non-recourse loan was secured via Freddie Mac and features partial term interest only transitioning to 35-year amortization.

According to Gantry’s Joe Monteleone, “Gantry continues to see highly competitive options for permanent construction takeout financing on stabilized multifamily assets. We review options from the GSE’s, life companies, banks, conduits and other sources to ensure our clients secure an optimized loan for their investment strategy. The Edison at Tiffany Springs is a key anchor in its fast-growing Northland community and hits all the right notes after a successful lease up. Modern construction. Stabilized occupancy. Experienced sponsorship. After a careful review of all options, a ten-year Freddie Mac loan offered the right mix of interest-only terms and 35-year amortization to maximize cash flows for a legacy hold.”