Gantry Inc. has secured $9.8 million in permanent financing for The Lake Apartments, a newly constructed, 46-unit community in Coeur d’Alene, Idaho. Principal Demetri Koston and Associate Joyce Chen arranged the 12-year, fixed-term Fannie Mae refinancing, which includes a $1.5 million cash-out. In January, Koston secured $30 million for The M Building, a 114-unit luxury community in downtown Spokane, Wash. Reinsurance Group of America provided the loan.
The Lake Apartments came online this year and comprises three interconnected buildings. The Class A property contains a mix of studio, one-, two- and three-bedroom units. Common-area amenities include a fitness center and kayak storage.
Located at 809 E. Mullan Ave., on a 1-acre lot, the community is about a mile west of Interstate 90. The surrounding area has several retail and dining options, including Ironwood Square shopping center, which is 2 miles from the property. The asset is also within walking distance of McEuen Park and within 8 miles of Coeur d’Alene Airport.