Gantry secured a $22.3 million loan for Lincoln Property Company’s acquisition of the Cityline at Tenley retail center in Washington, D.C. This 89,000-square-foot retail component of a mixed-use development includes 204 condominiums above a metro station. Tenants include Target, Ace Hardware, and Bank of America.  

Gantry’s Braden Turnbull, George Mitsanas, and Austin Ridge arranged the seven-year, fixed-rate loan with a correspondent life company lender, offering prepayment flexibility and a five-year interest-only period followed by 30-year amortization.  

“LPC’s Cityline at Tenley acquisition checks all the boxes for our correspondent insurance company lenders, who are focusing their permanent loan programs on assets with experienced sponsorship at the helm, strong fundamentals in the local market, and high barriers to entry that all support long-term relevancy,” said Gantry’s George Mitsanas.