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SEATTLE — Gantry has secured a $10.2 million permanent loan to refinance the historic Terminal Sales office building in downtown Seattle. Located at 1932 1st Ave., adjacent to Pike Place Market, the 11-story, 92,400-square-foot building was originally delivered in 1925. The property was eventually renovated to serve as modern creative office space and includes street-level retail space.
Mike Wood and Tim Brown of Gantry represented the borrower, a private real estate investor. The 10-year, fixed-rate nonrecourse loan was secured by Gantry’s network of insurance company correspondent lenders with 25-year amortization. Gantry will service the loan for the lender.