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October 12, 2023

Gantry finds $30M for Lee Johnson

Earlier this month, Gantry announced a successful refinancing deal for the Lee Johnson property in Kirkland. The lender wasn't named, but is evidently a life insurance company. The fixed-rate loan carries a nine-year term, with 30-year amortization. Gantry's effort was led by Mike Taylor and Demetri Koston. The latter said in a statement, “This is a generational operation with nearly 100 years of successful business history in the Kirkland and Seattle region.” Robert Jay of Lee Johnson said, “The Gantry team introduced our company to lending sources that we would not typically have worked with.” The deal again raises questions about Google's supposed intent to buy that 10-acre automotive property in Rose Hill, then develop about 1.5 million square feet for some 7,000 workers. And Lee Johnson has meanwhile been actively buying up new properties, recently completed a new building in Bothell — and is with Freiheit Architecture planning a large new facility in Totem Lake. And the city of Kirkland still hasn't approved an upzone for that Rose Hill strip along Northeast 85th Street.




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