Gantry arranged $72 million in financing for the refinancing of a four-property active adult community portfolio in Washington State. Transamerica Life Insurance Co. provided the fixed-rate loans in this transaction. The 15-year, fixed-rate loans feature a 30-year amortization period.
Built between 2020 and 2022, Norpoint Communities’ portfolio comprises a total of 440 units. There was the 184-unit The Highlands at South Hill in Puyallup, refinanced with a $26 million loan, a 104-unit community in Silverdale refinanced for $25.3 million, the 88-unit Cooper Point Village in Olympia receiving $10 million in financing, and the 64-unit StoneRidge at the Park in Tacoma which got a $10 million loan. Gantry Senior Director Jeff Ballaine completed the transactions.
