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SEATTLE — Gantry has arranged $53.5 million of permanent financing for Cypress Apartments in Seattle’s Yesler Terrace community.
The 237-unit, Class A apartment complex was completed in 2019 as part of the Yesler public housing redevelopment, which created a 30-acre public housing community that includes 5,000 new housing units for all income types.
Gantry’s Michael Taylor and Alex Saunders worked in conjunction with Russ Cree of Glacier Real Estate Finance to secure the financing on behalf of the borrower, a private real estate entity that Gantry has worked with for more than 20 years. The five-year, fixed-rate loan was secured through a credit union.