Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $32.4 million permanent loan to refinance construction debt for Mia Rose Holdings‘ 44 West Luxury Living apartment community.
The property, comprised of five residential buildings and a clubhouse, completed construction in 2024 and is now stabilized for a legacy hold. The class A property features a wide range of amenities including: a clubhouse with pool table, TV’s, fireplace and conversational seating; heated pool and sundeck; outdoor grill area with fire pit; and fitness center. Unit interiors include: white quartz counters; contemporary soft close cabinetry; stainless steel appliances; in-unit washer/dryer; walk-in closets; and nine-foot ceilings throughout.
Gantry’s Joe Monteleone, Principal, and Bonnie Monteleone, Senior Associate, with the firm’s St. Louis production office represented the borrower, a private real estate investor. The five-year, fixed rate loan was secured from an institutional direct lender at an attractive rate for the current cycle and features interest only terms for the duration of the loan.
According to Gantry’s Joe Monteleone, “Multifamily assets continue to enjoy strong interest from a wide range of lenders in the current market cycle. For a high-quality project like 44 West demonstrating strong performance with an experienced sponsor, we were able to review maturing construction debt against various permanent programs from a range of lenders. Ultimately, we identified a shorter-term permanent loan from an institutional direct lender on Gantry’s extensive roster of debt sources, optimized for supporting the property’s legacy hold with full term interest only for the duration of the loan to maximize cash flows.”
44 West was developed by Mia Rose Holdings, a St. Louis-based real estate development firm specializing in multifamily and mixed-use communities throughout the Midwest. The refinancing ensures 44 West will remain a long-term asset in the Mia Rose Holdings portfolio, supporting the company’s strategy of delivering high-quality communities across the Midwest.
“We are thrilled to see 44 West reach this point of stabilization,” said Tom Kaiman, Founder of Mia Rose Holdings. “From the beginning, our goal was to create a modern, connected community in Valley Park, and it’s rewarding to see residents embracing the lifestyle and amenities we envisioned. Gantry has been a trusted partner in helping us achieve this milestone, ensuring the property is well-positioned for long-term success.”
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 national servicing portfolio approaching $24 billion, 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.
