Gantry Secures $20.8 Million in Long-Term Financing for 232-Unit Northern Heights Apartment Community in Airway Heights
SPOKANE, WA - Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured $20.8 million in financing for the $34 million purchase of the 232-unit Northern Heights Apartments community in Airway Heights, Wash. on behalf of a private Tenant-in-Common (TIC) investment entity focused on long-term ownership of the asset. Gantry’s Demetri Koston, Principal, and Joyce Chen, Associate, structured the loan on behalf of the borrower. The 15-year loan was placed with Fannie Mae at favorable terms, including a fixed interest rate with an interest-only payment structure for...