**South Lake Tahoe Townhome Project Secures $11.75M in Construction Financing**
Gantry has closed an $11.75 million construction loan for the development of 14 for-sale townhomes in South Lake Tahoe. The project, currently branded as South Lake Tahoe Townhomes, is situated at 3708 Lake Tahoe Boulevard and 3709 Osgood Avenue, spanning two parcels totaling 0.72 acres. Construction is already underway.
The development enjoys a prime location, fronting Lake Tahoe Boulevard and within walking distance to Lake Tahoe, Stateline casinos, and other local amenities.
The financing was arranged by Gantry’s Los Angeles and San Francisco production offices. Senior Director Peter Hillakas, Principal Robert Slatt, and Associate Keegan Bridges represented the borrower, a private real estate investor. The 18-month loan was sourced from Gantry’s network of lenders that specialize in construction financing.
Hillakas noted that although the project had strong fundamentals and an experienced sponsor, the resort location’s seasonality and recent zoning-related increases to the project’s land basis posed challenges in securing optimized financing terms.
“After a thorough review of our extensive lender roster, we identified a construction lender confident in the project’s for-sale model and willing to proceed without any pre-sale requirements,” said Hillakas. “This timely capital solution allowed the development to commence as planned.”
Industry professionals will have an opportunity to gain further insights from leaders in the multifamily sector at Connect Apartments 2025, taking place on September 11 at the Fairmont Century Plaza in Los Angeles.
