Gantry, a leading commercial real estate finance firm, has successfully secured a $30 million permanent loan for the Lee Johnson Family’s iconic automotive dealership property in Kirkland, Washington. The 100,000-square-foot facility and showroom located at 11845 NE 85th Street will benefit from this financing.
Demetri Koston and Mike Taylor of Gantry worked together to secure the financing on behalf of the borrower – a private partnership. This nine-year loan features an attractive fixed-rate with a 30-year amortization period.
According to Koston, this is an established business with almost a century of success in the Seattle region. While securing capital for specialized facilities like auto dealerships can be challenging at times, Gantry’s strong relationships with insurance company correspondents allow them to present clear operational details and evaluate land and facility values effectively. This enables them to showcase sponsor proformas that make sense for their wide range of insurance lenders.
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