Firm reports borrower-friendly market conditions fueling its performance
Commercial mortgage banking firm Gantry has announced closing over $2.1 billion in new commercial mortgage loans during the first half of 2021.
According to its release, Gantry originated 123 loans in the second quarter and 238 in total since the beginning of the year. Established in 1991, the company has a $17 billion portfolio of serviced commercial mortgages representing more than 2,000 loans in 43 states.
The San Francisco-based firm said that figure reflects a highly favorable lending environment for commercial real estate borrowers. Gantry also credits its growth to growing lender interest in retail loans and a strong lender appetite for the self-storage asset class, which has performed well during the pandemic.
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“So far this year, aggressive policy actions that were implemented to stabilize the economy have resulted in the favorable conditions in the capital markets we see today. This has motivated a broad spectrum of lenders to prioritize commercial mortgage allocations,” said Michael Heagerty, chief financial officer and principal with Gantry. “The resulting climate has provided the vast majority of commercial real estate owners with a variety of attractive financing options to refinance or acquire properties. Lender competition for quality assets has created a borrower’s market, and we continue to see generationally favorable rates and terms that should compel asset owners and investors to actively review their options in the current cycle.”
