Commercial mortgage firm Gantry reports solid performance for Q1
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Gantry has announced that its commercial mortgage production remained stable in the first quarter despite rising rates and tightening underwriting criteria.
“Our first-quarter production totals met expectations from the start of the year, with both lenders and borrowers remaining active and resilient in response to inflationary forces and global economic disruption from the war in Ukraine,” said Gantry principal Andrew Mekjavich. “Commercial real estate will remain a preferred allocation for capital. However, we anticipate that the upward pressure on rates will create challenges for real estate owners seeking the last dollar of leverage, with the most competitive debt retained for more conservative owners.”
In a release, the independent commercial mortgage banking firm revealed that it closed $1.07 billion of new commercial loans in Q1, originating a total of 111 loans. During the period, Gantry funded loans from more than 60 capital sources, including life company and bank lenders, which accounted for more than 85% of funded loans. Agency lenders met the demand for higher leverage investments, while bridge lenders financed value-add acquisitions in the multifamily marketplace.
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