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KALISPELL, MONT. — Gantry has secured a $10.5 million permanent loan to retire construction debt from the development of the second phase for The Landings on Two Mile, an apartment community in Kalispell. Located at 110, 112, 114 and 118 Teton St., the second phase features 72 one-, two- and three-bedroom floor plans.
Demetri Koston of Gantry’s Spokane, Wash., office represented the borrower, a private real estate investor, in the financing. The 12-year, fixed-rate loan was secured from an agency lender with an upfront interest-only period transitioning to 30-year amortization. In 2021, Gantry provided a $16.4 million permanent loan for the property’s 108-unit first phase.