Gantry Buys CRE Finance Company
Gantry Inc. has acquired Q10 | Triad Capital Advisors, a member of Q10 Capital. The combination will expand the commercial mortgage banking firm‘s servicing portfolio by more than $1.5 billion, putting its total servicing portfolio at about $20 billion.
The deal is also a geographic marriage, expanding San Francisco-based Gantry’s footprint in the Midwest. Trial Capital has offices in Kansas City, Mo., and St. Louis.
“Our goal is to expand with like-minded companies and individuals,” Gantry Principal Robert Slatt told Commercial Property Executive. “We felt that adding the individuals in Kansas City and St. Louis was a seamless strengthening of our mortgage banking services.”
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Triad has built a strong reputation in the Midwest and allows Gantry an opportunity to continue to expand in other markets that it historically hasn’t had representation, Slatt said. He led the Gantry acquisition team alongside Principals Michael Heagerty, George Mitsanas and Jeff Wilcox.
Going forward, Triad Capital will operate under the Gantry name, with Principals Mark Reichter and Joe Monteleone holding an equity stake in the newly expanded firm.
In fact, Gantry is no stranger to this kind of expansion. The company acquired the mortgage banking arm of Norris, Beggs, and Simpson in 2020 and the mortgage banking company, The Rose Hill Group, in 2019.
Commercial mortgage industry heading for uptick
The deal comes at a time of guarded optimism in the commercial mortgage industry, as elevated interest rates started to moderate somewhat even before the Federal Reserve’s recent half-point cut.
Total U.S. commercial and multifamily mortgage borrowing and lending will finish the year at $539 billion, which would represent a 26 percent increase from the 2023 total of $429 billion, according to the latest forecast by the Mortgage Bankers Association.
Besides interest rates, a large volume of loans is maturing in the coming quarters, which will probably prompt an uptick in mortgage borrowing from the low levels seen over the last two years, according to Jamie Woodwell, MBA’s head of commercial real estate research. Players that have been on the sidelines are more likely to act in the near future, he noted.
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