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Gantry Secures $12M Refi for Seattle Office Ground Lease

Gantry Secures $12M Refi for Seattle Office Ground Lease

Commercial mortgage firm Gantry has secured a $11.7 million permanent loan to refinance the ground lease supporting a Class A office building in the Fremont District of Seattle. Located at 3400 Stone Way N, the five story, 121,000-square-foot building, which features nearly 17,000 square feet of ground-level retail, is currently the Seattle HQ for Brooks Sports, Inc.

“Life companies are uniquely positioned in the current market cycle to refinance at the best rates for performing assets facing a pending maturity,” said Gantry Principal Mike Wood who, along with Associate Alex Saunders, represented the borrower, a private real estate investor. “Refinancing office assets in the current market cycle will be challenging, and borrowers should be prepared to tell their story and demonstrate future relevance.”

According to Gantry, the 10-year, fixed-rate loan was provided by one the firm’s correspondent life company lenders.


Inside The Story

GantryMike Wood

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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