Gantry, a leading commercial real estate firm, has successfully secured a $35 million permanent loan to refinance 1201 Pacific in Tacoma, Washington. The property is a prestigious 305,000-square-foot class A office tower that boasts LEED Gold certification and is currently almost fully leased. Located in the heart of Tacoma’s central business district, this impressive 25-story building was financed by one of Gantry’s correspondent insurance company lenders.
Mike Taylor and Jeff Ballaine from Gantry’s Seattle production office represented the borrower Unico in this transaction. Despite current challenges facing the office market and many lenders pulling back from financing such properties altogether, Gantry worked closely with both parties to underwrite this iconic tower and secure an attractive long-term fixed-rate loan that aligned with Unico’s goals while also meeting the lender’s requirements.
Unico has been a prominent player in Seattle’s commercial real estate scene for several decades now and their diligent management approach for 1201 Pacific has resulted in consistently high occupancy rates. This successful refinancing deal further solidifies their position as one of the top operators in the region.
Overall,Gantry continues to demonstrate its expertise as well as its commitment to delivering exceptional results for clients through strategic partnerships with industry-leading lenders like these.
