August 27, 2020
Gantry secured $20,000,000 in financing for the Lodges at Lake Salish Flats in Fairview, OR. The 203-unit multifamily property is on Portland’s eastside at 20699 NE Glisan St.
Gantry’s Blake Hering, Matt Illias, and Heather Kegler organized the Freddie Mac mortgage to refinance an present mortgage that was coming due. The financing was structured as a 10-year, full time period curiosity solely deal.
Hering says, “We took the deal to market in early Could. On the time there was a large hole between company and life firm pricing. Freddie had probably the most aggressive pricing and supplied full time period curiosity solely. At closing, the property was within the midst of ongoing exterior renovations.”
The property was constructed in 2004 and consists of 18 buildings unfold throughout the 7.5-acre property subsequent to the Salish Ponds Metropolis Park. The floorplan configuration contains one- and two-bedroom models. Group facilities embody a clubhouse, lounge, film theatre, health middle, out of doors pool and spa, lake views and nature paths.
For feedback, questions or issues, please contact Dennis Kaiser
Gantry Delivers $20M in Financing for Portland MF