Gantry Arranges Three Loans Totaling $31.9M for Refinancing of Upstate New York Multifamily Properties

BUFFALO, N.Y. — San Francisco-based mortgage banking firm Gantry has arranged a trio of loans totaling $31.9 million for the refinancing of three multifamily properties totaling 426 units in Upstate New York. In the first deal, a correspondent agency lender provided a 10-year loan that carried a fixed interest rate, five years of interest-only payments and a 30-year amortization schedule for a 181-unit property in Central New York. In the second transaction, a life insurance company funded a 20-year loan that was also structured with a fixed rate and multiple years of interest-only payments for a 176-unit asset in Buffalo. A Wall Street-based lender provided the final loan with similar terms for a 69-unit property in Rochester. Tom Grzebinski and Jack Stelianou of Gantry placed all three loans on behalf of undisclosed borrowers.