Gantry has arranged $38.15 million in construction financing for The Lawrence Apartments in Buffalo, NY. The Class A project, located at 983 Michigan Ave, will comprise a four-story, 132-unit building adjacent to the Buffalo Niagara Medical Campus.  

The 5-year loan, secured on behalf of a private real estate joint venture, was provided by a regional bank and features a construction-to-mini-perm structure at a fixed interest rate. Gantry’s Daniel Monte, with the firm’s Phoenix production office, secured the loan on behalf of the borrow, a private real estate joint venture.  

“Construction financing had its own set of challenges in the current post-pandemic market climate. Now that the volatile materials and labor costs of recent years are stabilizing, we are better able to accurately underwrite loans to true cost and a projected value,” said Gantry’s Daniel Monte.