Gantry Secures $34M of New Loans Across Four Seattle Region Assets

Gantry has secured a total of $34.3 million of loans to refinance four Seattle MSA assets owned by different and unaffiliated entities. Each transaction was placed with one of Gantry’s life company correspondent lenders, and each structure provided the borrowers with non-recourse fixed-rate loans at competitive rates priced over the corresponding benchmark treasury indexes.

Gantry’s Mike Wood, Principal, with the firm’s Seattle production office, represented three of the borrowers on an exclusive basis and worked with members of Gantry’s L.A. office on the last transaction.  The assets that were financed included:

• Fremont Brewing Building: An industrial property located at 4700 9th Ave NW in Seattle’s Ballard neighborhood. The 80,000-square-foot building is 100% occupied by craft brewer Fremont Brewing for their production operations.
• Holgate Center: A flex-office building with retail space located at 1737 Airport Way in Seattle’s SoDo neighborhood. The 130,746-square-foot, multi-tenant building is home to a mix of traditional and non-traditional office tenants, an on-site deli, a retail building and multi-story structured garage.
• Burke Building & 3400 Phinney/Ground Lease: This building is located at 449 N 35th St and 3400 Phinney Ave N, in Seattle’s Fremont neighborhood. The financing covers the ground lease for a three-story office building and an adjacent warehouse building.
• Stonehedge Apartments: Located at 1220 N 45th St in Seattle’s Wallingford neighborhood, the property offers 44 apartment units over ground floor retail space and an adjacent free-standing rental home.