Gantry has secured $20.7 million in permanent loans to refinance maturing debt for two Pacific Northwest multifamily communities in Washington and Oregon.

The subject loans include a $13.3 million loan for the 134-unit Boxcar Apartments located at 15 N Grant Street in Spokane, and a $7.4 million loan for the 70-unit Treehouse Apartments located at 3440 SW US Veterans Hospital Rd in Portland. Both communities feature modern construction and contemporary interiors. “Multifamily continues to enjoy the widest range of potential debt sources, with agencies, life companies, banks, debt funds and CMBS lenders competing for assets that align with their targeted allocations,” said Hering.

Gantry’s Blake Hering, Principal, Charlie Kokernak, Director, and Hrishi Bukshin, Associate, with the firm’s Portland production office, represented the borrower, a private real estate investor. Both five-year, fixed-rate, non-recourse, full-term interest-only loans were secured from an institutional balance sheet lender.

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