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**Gantry Secures $63.2M Refinance for Aspire at Redwood in Las Vegas**
Gantry has secured a $63.2 million permanent loan to refinance and retire the construction financing for Aspire at Redwood, a Class A apartment community in southwest Las Vegas. Located at 6755 West Arby Avenue, the property is developed and owned by Ovation Development.
Aspire at Redwood features 302 residential units in a mix of studio, one-bedroom, and two-bedroom floor plans. Designed with luxury and convenience in mind, the community offers a range of upscale resident amenities, including a resort-style pool, yoga and fitness studios, a clubhouse with a great room, and a demonstration kitchen. The property is also adjacent to a Sprouts grocery store and a variety of nearby dining establishments.
The financing transaction was led by Gantry’s George Mitsanas, Chris Funai, and Austin Ridge, representing the firm’s Los Angeles (El Segundo) and Las Vegas offices. The 10-year, fixed-rate loan was sourced from one of Gantry’s correspondent life insurance company lenders. The financing structure includes nearly full-term interest-only payments followed by two years of 30-year amortization, supporting strong cash flow. Gantry will service the loan.
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