**Gantry Secures $11M Permanent Loan for Grandview Place Apartments Refinance**
Gantry has successfully arranged an $11 million permanent loan to refinance maturing debt for the Grandview Place Apartments, located at 19420 SE 20th Street in Camas, Washington, a suburb of East Vancouver.
Situated just across the Columbia River from Portland, Oregon, Grandview Place Apartments is a multifamily community comprising 154 residential units spread across 21 buildings on a 6.5-acre site. The property offers a mix of one-, two-, and three-bedroom floor plans.
Blake Hering, Principal, and Abi Hunter, Associate, from Gantry’s Portland production office, represented the borrower—a private real estate investor—in the transaction. The refinancing was secured through one of Gantry’s correspondent life company lenders and features a 10-year fixed interest rate with a 30-year amortization schedule. Gantry will also 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.
