April 16, 2020
San Francisco-based Gantry, Inc. reported it arranged financing for 28 separate transactions, totaling more than $175 million in debt over the past 30 days. The transaction volume encompassed commercial real estate assets across multifamily, mixed-use, retail, office and industrial property types. Seven of the transactions involved Pacific Northwest assets.
Gantry’s Michael Heagerty says, “Despite the challenges presented by the coronavirus pandemic, Gantry production teams have worked tirelessly to create solutions for each unique borrower and loan situation. As a result, our firm has been consistent in closing at least a deal per day since the pandemic started. The market is adjusting and responding in these tough times. That is encouraging to see and gives us hope for brighter days in the weeks and months to come.”
One PNW highlight was a $40-million permanent financing for the Ainsworth & Dunn Building and 10 Clay Apartments, a mixed-use property in Seattle (pictured). Gantry’s Mike Taylor and Mike Wood arranged the loan for the 62-unit apartment building with commercial and office tenants through a life insurance company.
A multifamily asset deal in Seattle arranged by Gantry’s Brian Bonipart through a regional bank encompassed a $12-million construction to permanent loan for the 68-unit Nesbit Apartments.
A little further south in Vancouver, WA, Gantry’s Blake Hering arranged a $15-million acquisition loan funded by a life company for the 104,466 square-foot Vancouver Village.
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