Gantry Arranges $12.5M in Financing for Net-Leased Office Building in Seattle
SEATTLE — Gantry has arranged $12.5 million in financing for a single-tenant office property in Seattle’s South Lake Union submarket.
Located at 1144 Eastlake Ave. E, the seven-story building features 82,000 square feet of rentable space. The property was built in 2002. Seattle Cancer Care Alliance fully occupies the building.
Mike Wood and Alex Saunders of Gantry’s Seattle production office identified and structured the loan on behalf of the borrower, a private real estate owner and previous Gantry client. The 10-year loan refinanced existing obligations. State Farm provided the capital on a full-term interest-only basis at an interest rate below 2.5 percent.