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March 12, 2020
Gantry announced the recent $40 million loan to the developers of the renovated Ainsworth & Dunn Building and new companion 10 Clay St. apartments. Gantry's Mike Taylor and Mike Wood arranged the 13.5-year term financing from Principal Global Investors. Taylor said in a statement, “We were able to get the lenders comfortable with this deal because of the strong sponsor, the quality of the project and the track record of co-working firm Spaces, which occupies space in the office A&D Building.” That landmarked former warehouse is at 2815 Elliott Ave. Weinstein A+U designed the renovation and addition, plus the 62-unit apartment building. Walsh Construction Co. was the contractor, and Meriwether Partners was the developer. Gantry recently acquired the commercial mortgage banking division of Norris, Beggs & Simpson, with Wood and others joining its Seattle office.