Gantry, a leading commercial real estate firm, has successfully secured a $6.2 million permanent loan for the refinancing of Lake Union Center in Seattle’s North Lake Union submarket. The 65,000-square-foot Class A office property located at 1441 N 34th Street boasts stunning views of Lake Union and the Seattle skyline.
The financing was arranged by Gantry’s Mike Wood, Principal, and Colin Ceithaml, Senior Associate from their Seattle production office on behalf of a private real estate entity. The borrower received a fixed-rate loan with conservative underwriting terms including a 10-year term and 25-year amortization schedule.
According to Wood: “Our client was looking to refinance an already stabilized asset with significant equity in place.” Through careful underwriting practices we were able to secure low leverage financing that allowed them to access some equity while also providing liquidity for future improvements or redemptions.”
This successful transaction showcases Gantry’s expertise in securing favorable financing options for their clients’ commercial real estate needs.
