Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured $27.8 million in financing to acquire a Bay Area Multifamily Portfolio of eight Oakland properties.
Gantry’s Jeff Wilcox, Principal, and Erinn Cooke, Senior Associate, with the firm’s San Francisco production office represented the borrower, a private real estate investor. The Bay Area Multifamily Portfolio financing was structured as a three-year, variable rate acquisition loan provided by a single institutional debt fund. The instrument included prepayment flexibility, extension options and a very competitive interest rate.
According to Gantry’s Jeff Wilcox, “Long-term multifamily fundamentals continue to support investment interest in the Bay Area, and this transaction represented an opportunity to acquire a portfolio of mature assets with substantial upside potential at scale for an attractive price. Key to this acquisition was closing before year end, a goal met through a timely debt fund execution. Gantry’s ability to survey the full breadth of options available in the capital markets allowed us to optimize the cost of debt capital, the key to client investment 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 $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.
