Gantry Secures $8.2M Construction Loan For Skyview Lofts In Kalispell, MT
2105 3rd Avenue East
$8,200,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 5, 2023
AI
Skyview Lofts, a 48-unit luxury multifamily community located at 2105 3rd Avenue East in Kalispell, Montana, has secured an $8.2 million permanent loan to retire construction financing. The loan was provided by Fannie Mae.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,200,000
- Units: 48
- Market: Kalispell, MT
Gantry, the commercial mortgage banking firm, represented the borrower in this transaction. Demetri Koston, from Gantry, served as the broker.
It is worth noting that the loan is a construction loan with a 10-year term. The loan carries an attractive rate and features a 30-year amortization and full-term interest-only payments.
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
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93