JACKSON HOLE, WY – Gantry, the largest independent commercial mortgage banking firm in the United States, has arranged $20,700,000 in financing for the Timbers at Jackson Hole in Jackson Hole, Wyo. The 85-unit multifamily property is conveniently located less than two miles from Downtown Jackson.
Adam Parker, Principal, and Chad Metzger, Senior Associate, with Gantry’s Phoenix production office arranged the 10-year loan through an agency lender for a repeat client.
According to Gantry’s Parker, “Jackson Hole is known for its stunning natural beauty and being a world renowned ski and resort destination. Under normal conditions, the Timbers at Jackson Hole property benefits from significant demand in a supply-constrained market. However, the COVID-19 pandemic temporarily slowed rental demand for a couple of months in the spring of 2020. After listening to the borrower and their projections for the property, together, we strategized on how best to communicate the property’s story to lenders. By the fall of 2020, the property was operating at near 98% occupancy with three solid months of elevated rental collections which allowed us to execute the loan as planned.”
Gantry’s production teams actively arrange multifamily and commercial loans throughout the United States. The firm’s Phoenix production office annually ranks as one of the firm’s top-performing offices capable of delivering commercial mortgage finance solutions in all 50 states of the nation, as evidenced by this transaction in Wyoming.
About Gantry: Gantry, a privately held company headquartered in San Francisco, is a full-service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Gantry’s production, closing and servicing capabilities. Established in 1991, Gantry is currently staffed by nearly 90 professionals in regional offices throughout the western United States and in New York. The company’s national servicing platform valued at nearly $17 billion represents more than 2,000 loans located in 43 states. Gantry is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation. For more information, please visit gantryinc.com