Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $10.5 million permanent loan to retire construction debt from the development of the second phase for The Landings on Two Mile apartment community.
Gantry’s Demetri Koston, Principal, with the firm’s Spokane production office represented the borrower, a private real estate investor. The 12-year, fixed rate loan was secured from an Agency lender with an upfront interest-only period transitioning to 30-year amortization.
According to Gantry’s Demetri Koston, “The Flathead Valley continues to see a wave of new housing construction, with multifamily projects leading the way in Kalispell. The region’s strong fundamentals and sustained demand have supported continued development at The Landings. However, an extended period of rate volatility had made timing for retiring construction debt on phase two a challenging assignment. Gantry’s ability to review options across the full spectrum of active lenders and monitor rates in a volatile market helped us time what ultimately resulted in an Agency financing at an attractive fixed rate for the cycle to support our client’s plans for a long-term, legacy hold.”
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 a $23 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.
