Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $26 million permanent loan to refinance the Belmont at Park Ridge Apartments located at 150 Rockberry Lane in Alpharetta, a suburb of the Atlanta MSA.
Community amenities at Belmont at Park Ridge Apartments include resort-style pool, fitness center, and parklike settings near local walking paths.
Gantry’s Blake Hering, Principal, and Abi Hunter, Associate, with the firm’s Portland production office represented the borrower, a private real estate investor. The 15-year, fixed rate loan came from one of Gantry’s top insurance correspondents and features interest-only, non-recourse terms.
According to Gantry’s Blake Hering, “Our client’s timing was fantastic. An interest rate was locked last year before the Fed’s rate drop in the Fall, which sent treasury yields skyward. The forward rate lock feature here proved to be prescient. Our life company correspondent came through with market leading lending terms.”
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.
