Updated Jan 13, 2025
Gantry Secures $10.5 Million Loan For The Landings On Two Mile Multifamily In Kalispell MT
110 Teton Avenue, 112 Teton Avenue, 114 Teton Avenue & 118 Teton Avenue
$10,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 10, 2025
About this deal
AI
The transaction involves a multifamily asset located at 110 Teton Avenue, 112 Teton Avenue, 114 Teton Avenue, and 118 Teton Avenue in the Kalispell, MT market. The loan amount secured for this property is $10,500,000 through a long-term financial agreement.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,500,000
- Loan Terms: 12-year, fixed rate loan
- Broker: Demetri Koston - Gantry
- Date: 01/10/2025
- Note: Gantry secured a $10.5 million permanent loan to retire construction debt for the second phase of The Landings on Two Mile apartment community in Kalispell, Montana.
This transaction highlights the role of Demetri Koston from Gantry, who served as the broker in this deal, facilitating the financing needed for the development of the multifamily property in Kalispell.
On the Map
$10,500,000
MultiFamily
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Players
Kalispell MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93