SPOKANE, WA – Independent commercial mortgage banking firm, Gantry has secured $42.7 million of new agency financing in two separate transactions for two multifamily assets in Spokane, WA and Kalispell, MT.
Principal of Gantry's Spokane production office, Demetri Koston secured the loans on behalf of the borrowers, both private investment entities. The non-recourse loans were placed with Fannie Mae.
For the first transaction, Gantry secured $26.2 million to refinance the 270-unit multifamily property, Beaumont-Biltmore Apartments, in the South Hill neighborhood of Spokane, WA. The fully-stabilized, garden-style community was built in 1994 and features a mix of one-, two- and three-bedroom floorplans. The 10-year loan for this asset features interest-only terms and a sub-3% floating rate at closing.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
