Gantry has secured a $11 million permanent loan to refinance maturing debt for the Grandview Place Apartments located at 19420 SE 20th Street in Camas, a suburb of East Vancouver, Washington.
Located directly across the Columbia River from Portland, Oregon, the apartment community features 154 units across 21 buildings on 6.5 acres of land, with a mix of one, two, and three-bedroom floorplans.
Gantry’s Blake Hering, Principal, and Abi Hunter, Associate, with the firm’s Portland production office represented the borrower, a private real estate investor. The 10-year, fixed rate loan was secured through one of Gantry’s correspondent life company lenders and features a 30-year amortization. Gantry will service the loan.
“This long-time client had a pending loan maturity. With ample notice, we worked together to time the rate lock in order to get the best rate. In hindsight, the forward rate lock feature was extremely valuable,” said Hering.
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