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Seattle & Northwest  + Seattle  + Apartments  |  March 21, 2025
Jasmine Kilman
By: Jasmine Kilman

Gantry Secures $16M for Seattle Multifamily Refinance

Gantry has arranged a $16.2 million permanent loan to retire acquisition financing for the Highlander Apartments located at 11501 15th Avenue NE in Seattle’s Pinehurst/Northgate neighborhood.

The 121-unit property offers a mix of studio and one-bedroom floorplans. The Highlander Apartments property was acquired in 2023 as a vacant assisted-living facility and fully renovated into market-rate apartments in a strategic value-add repositioning.

Gantry’s Mike Wood and Mike Taylor, Principals, and Tim Brown, Associate, with the firm’s Seattle production office represented the borrower, a private real estate investor. Highlander Apartments is currently 100% leased at rents below 80% AMI, qualifying the loan for a Fannie Mae “Sponsor Dedicated Workforce Housing” loan.

“The redevelopment of this asset into workforce housing opened the door to agency programs that reward project sponsors with exceptionally attractive terms,” said Wood. “This financing now stabilizes the property for a long-term, legacy hold.”

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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