March 13, 2025
As the DJC reported in January, a Tukwila warehouse traded for about $20.2 million to an LLC associated with Davis Property & Investment and Robison Investment Properties. Its nearly 109,000 square feet are fully leased. Principal Life Insurance then loaned $12.1 million for the purchase. Gantry said this week that it arranged the 7.5-year, fixed-rate, non-recourse loan. Tim Brown and Mike Wood led the effort. The latter said in a statement, “This was a time sensitive acquisition that started negotiations and due diligence in late 2024. We were able to lock a rate in November of last year to begin the formal purchase negotiations with a loan in place.” The loan features an introductory interest-only period, followed by 30-year amortization for the remaining term.
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