Gantry announces $ 1.16 billion in commercial mortgage loan production for the first quarter of 2021
SAN FRANCISCO – (COMMERCIAL THREAD) – Gantry, the largest independent commercial mortgage bank in the United States, secured $ 1.16 billion in new commercial mortgages in 115 unique transactions during the first quarter of 2021. This represents a quarter very strong for the company both in terms of total loan production and personal loan volume. ready. A still historically low interest rate environment, a significant array of attractive loan structures, and abundant capital allocations to meet a range of borrower priorities are expected to continue to drive strong production in the second half. quarter 2021.
“Commercial mortgage lenders remain active but focused on diligent underwriting for what they continue to view as a preferred investment option,” said Michael Heagerty, chief executive and chief financial officer of Gantry. “Despite the recent slight increases in Treasury rates, the market remains in a historically low rate environment with a multitude of funding sources available. It is a fascinating landscape for qualified borrowers looking for tailor-made solutions for their operational priorities and goals. Competition from lenders for quality assets remains strong in 2021. ”
In terms of capital allocations by asset class, Gantry’s creations in the first quarter of 2021, ranked in descending order, included multi-family, self-storage, office, industrial and commercial assets; life insurance companies, banks and lending agencies rank among the top sources of funding in volume and value, also in descending order. Notable trends in relevant gantry verticals include:
Gantry made a total of 115 individual loans in the first quarter, which represents an average loan size of over $ 10 million. Gantry’s list of banks and credit unions were extremely active in small and medium-sized lending, and lending agencies offered a variety of attractive multi-family financing options. Extremely active life insurance lenders topped 75% of total loan size for the quarter as their loan size increased in 2021. Gantry life insurance company transaction highlights at first trimester are:
$ 364 million for self-storage / industrial portfolio refinancing
Refinancing of a $ 210 million multi-family portfolio
$ 35 million in construction funding for permanent multi-family development
Gantry, a long-time Standard & Poor’s rated primary service provider, continues to deliver nearly 100% of expected performance from its portfolio of over $ 17 billion of managed commercial mortgages covering more than 2,000 loans in 43 States. Gantry’s diligent outreach and proactive forbearance discussions throughout 2020 brought nearly all troubled loans closer to initial loan terms. The company continues to mitigate the impacts of problematic loans early in the process through the swift action of a team of seasoned experts with decades of experience navigating the dynamics of troubled markets. Gantry expects to see a continued trend in asset performance for the foreseeable future as a result of these efforts.
Gantry added four new executives to its team of customer-facing production talent in the first quarter of 2021 with new hires at the company’s offices in Los Angeles, Phoenix, Newport Beach and Portland. As the largest independent commercial real estate banking firm in the United States and a leading member of the Strategic Alliance Mortgage (SAM) network, Gantry plans to continue growing its production team in 2021 when candidates and side recruits demonstrate independent dynamism and sharing the same ideas. a depth of expertise required in commercial mortgage financing.
About the gantry
Gantry, a privately held company headquartered in San Francisco, is a full-service mortgage banking company with a wide range of correspondent lenders utilizing Gantry’s production, closing and service capabilities. Founded in 1991, Gantry currently has nearly 90 professionals in regional offices in the western United States and New York. The company’s national service platform, valued at nearly $ 17 billion, represents more than 2,000 loans located in 43 states. Gantry is classified as a Primary Servicer by Standard & Poor’s and is one of the few non-bank / non-insurance chartered companies with this designation. For more information, please visit gantryinc.com.