SAN FRANCISCO, CA - Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $40.5 million permanent loan to retire construction financing for the recently completed and now stabilized class-A apartment project. The 264-unit complex boasts a variety of floorplans, including 1-, 2-, and 3-bedroom options, spread across 23 buildings nestled on approximately 17 acres of land. The property also includes a clubhouse offering a pool, therapeutic hot tub, sauna, 24/7 fitness center, and theater room as well as a sports court, playground, and off-leash dog park.
Gantry’s Blake Hering, Principal, and Crischell Bacarro, Associate, with Gantry’s Portland and Los Angeles production offices, respectively, represented the borrower, a private real estate investor. The 5-year, interest-only agency loan was provided by Fannie Mae via Walker & Dunlop with an attractive fixed rate.
According to Gantry’s Blake Hering, “The apartment project was successfully stabilized following its delivery in 2023, and our team was able to secure an optimized permanent loan for the sponsor to retire the project’s maturing construction financing. Multifamily properties hold a primary allocation target status among the majority of Gantry's debt capital providers, and this requirement, as all client requirements, was engaged in discussions with a diverse range of capital sources. It became clear after this survey that an agency loan best met an experienced sponsor’s legacy hold investment plans.”
About Gantry: At Gantry, independent thinking is in our genes. As a privately held firm, we take an intentional approach to everything we do. So, as our industry consolidates and becomes less personal, we push ourselves to ignore convention, to set a high standard and to always prioritize people ahead of profits. With over 30 years of experience of loan production and managing an $18 billion national servicing portfolio, our firm leverages a well-established correspondent-driven platform to construct the best financing solutions for our clients. For those seeking a partner that delivers more, we’re a little different. The right kind of different. To find out why and how, click here: www.gantryinc.com