Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $11 million permanent loan to refinance maturing debt for the Grandview Place Apartments located in Camas, a suburb of East Vancouver, Washington, directly across the Columbia River from Portland, Oregon.
The Grandview Place apartment community was built in 2009 and features 154-units across 21-buildings on 6.5-acres of land in a mix of one, two, and three-bedroom floorplans. Units range from 854 to 1,524 square feet. The luxury apartment community features a resort-style pool and clubhouse, fitness club facilities, executive business center, modern unit interiors, and onsite storage units among other amenities. The community is pet-friendly with few restrictions.
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 10-year, fixed rate loan was secured through one of Gantry’s correspondent life company lenders and features a 30-year amortization. Gantry will service the loan.
According to Gantry’s Blake Hering, “This long-time client had a pending loan maturity. With ample notice, we worked together to time the rate lock in order to get the best rate. In hindsight, the forward rate lock feature was extremely valuable.”
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.
