Gantry has secured $11 million of permanent financing to refinance Cumberland Industrial Center, a four-building flex industrial park encompassing 118,500 rentable square feet on 7.4 acres at 22022-22028 68th Ave S in Kent, WA. The multi-tenant property is occupied by a range of manufacturing, retail, and professional service tenants.

Principal Mike Wood and associate Alex Saunders, with Gantry’s Seattle production office, secured the financing on behalf of the borrower, a private real estate investor. The five-year, fixed rate loan was placed with one of Gantry’s correspondent insurance company lenders at an attractive rate and included interest-only payments for the entire loan term.

Wood said, “The ownership of Cumberland Industrial Center is a longtime Gantry client and an experienced sponsor with a reputation for being a great property manager. This has kept occupancy steady at this well-maintained property, which shows continued, long-term upside from successive leasing renewals as well as new tenants. When these conditions exist, Gantry’s stable of life company correspondent lenders are able to offer the most competitive terms available in the market.”