Gantry has secured an $11 million permanent loan to refinance a portfolio of Seattle-area industrial properties located in Marysville, Tukwila, and Kent, Washington.
The four-building portfolio encompasses 124,640 square feet and is 100% leased to multiple tenants. Gantry’s Mike Wood, Principal, and Tim Brown, Senior Associate, with the firm’s Seattle production office, represented the borrower, a private real estate investor. The 10-year loan was secured through one of Gantry’s most active life company lenders and includes full-term interest only at a fixed rate reflecting strong debt service coverage.
“Industrial continues to perform as one of the top investment properties, and most lenders continue to favor allocations to the asset class for performing properties with strong fundamentals,” said Wood. “These four properties enjoy key suburban locations serving the greater Seattle/Tacoma region and are fully leased to strong, committed tenants across a variety of industry types, including logistics.”
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