Gantry Secures $16M for Seattle’s Russell Hall Mixed Use in University District
Why this matters
Retail has become a quiet outperformer. A decade of effectively zero new development has left necessity-driven, grocery-anchored, and Sun Belt strip product with negligible vacancy and re-leasing spreads in the high single digits. Cap rates have compressed in step, and the bid for stabilized portfolios is again broad across REITs, pension funds, and institutional core-plus capital. Washington office has been a leading conversion market in the cycle, with multiple downtown Class B assets entering office-to-residential programs in the last twelve months. The asset class has effectively rerated as a defensive yield trade rather than a secularly challenged sector.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 28th Washington story tracked on the wire in October 2026. All Washington coverage →
- Disclosed retail deal value tracked in October 2026: $5.8B across 38 reported transactions. All Retail coverage →
Computed from Real Estate Trail’s own tracked coverage
Gantry has secured a $16 million permanent loan to refinance maturing debt for Russell Hall, a mixed-use property located at 1414 NE 42nd St, directly adjacent to the University of Washington and “The Ave” retail and…
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