PNW Borrowers Lock Down Financing As Low Interest Rates Flourish
San Francisco-based mortgage banking firm Gantry has arranged financing for 28 separate transactions in the past 30 days, including several in the Pacific Northwest.
Gantry said its transactions total more than $175M across several commercial real estate assets, including multifamily, mixed-use, retail, office and industrial.
Its Seattle transactions include $40M permanent financing through a life insurance company for the Ainsworth & Dunn Building and 10 Clay Apartments, a mixed-use property with 62 residential units, as well as commercial and office tenants. Gantry’s Mike Taylor and Mike Wood arranged the transaction.
Gantry also arranged a $12M permanent loan through a regional bank for the 68-unit Nesbit Apartments in Seattle. Gantry’s Brian Bonipart arranged the loan.
In Vancouver, Washington, the firm’s Blake Hering arranged a $15M acquisition loan for the 104K SF Vancouver Village.
Many commercial real estate property owners are taking advantage of the low interest rates and refinancing or securing permanent financing. Sawyer Trail Townhomes in Frederickson was recently refinanced for $22.5M. The Main Apartments in Sumner secured $19.5M in permanent financing in March.
