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INDEPENDENCE, MO. — Gantry has secured a $10 million loan for the refinancing of Hillside Apartments, a 108-unit property located at 111 Hillside Drive in Independence, 10 miles east of Kansas City. The garden-style community consists of 14 three-story buildings. The fully stabilized asset underwent a property-wide renovation.
Mark Reichter and Alec Frook of Gantry arranged the financing on behalf of the borrower, a private real estate investor. Fannie Mae provided the seven-year, fixed-rate loan, which features an interest-only introductory period followed by a 30-year amortization.