Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $16.25 million permanent loan to refinance the Arbor Ridge II apartments located at 4440 Oakhollow Drive in Sacramento in the city’s North Highlands district.
Gantry’s Robert Slatt, Principal, and Alex Poulos, Associate, with the firm’s San Francisco production office represented the borrower, a private real estate investor. The 10-year loan was secured from one of Gantry’s life company correspondents and features interest only terms transitioning to 30-year amortization. Gantry will service the loan.
According to Gantry’s Robert Slatt, “Multifamily remains one of the strongest performing asset classes in the current market cycle, which presents significant options from a large range of lenders for new financings or refinancing maturing debt. For Gantry, optimizing the right loan structure and source is dependent upon the goals established by a borrower and their business plan. Our sponsor-client for Arbor Ridge II needed to retire an existing maturity and redeploy cash out proceeds to bolster refinance at another property. At the same time, ongoing rate volatility focused concerns on a timely and predictable execution. To ensure no surprises and provide certainty of closing, we turned to one of our life company correspondents who will rate lock at application. Conservative underwriting still allowed for necessary cash out proceeds with an attractive rate, five-years interest only, and non-recourse 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.
