Gantry Secures $40M for Suburban Portland MF Assets

Gantry has secured two $20 million permanent loans for a single sponsor to refinance maturing debt for a pair of suburban Portland apartment communities.

The properties include the Squires Court community in Clackamas and the Riverwood Heights complex in Tigard. Both are stabilized, high-quality, garden-style assets featuring a mix of one-, two-, and three-bedroom floor plans and combine for a total of 475 units. Common amenities across both communities include swimming pools, clubhouses, in-unit washer and dryer, onsite property management and well-maintained structures and landscaping.

Gantry’s Blake Hering, Principal, and Kristin Lapinskas, Senior Associate, with the firm’s Portland production office, represented the borrower, a private real estate investor group. The pair of five-year, fixed-rate, non-recourse permanent loans was secured from one of Gantry’s correspondent life company lenders and features a full-term interest-only payment schedule. Gantry will service the loans for the single lender, providing both loans.