Gantry Secures $21.2M in Loans to Refinance Two North Idaho Medical Offices

Gantry, a commercial mortgage banking firm, secured $21.2 million in two permanent loans to refinance maturing debt on North Idaho medical office buildings, a move that lowers near-term refinancing risk for property owners and helps protect continuity of medical services for Kootenai County residents. The loans closed Feb. 5, 2026.

One loan of $11.5 million refinanced a 60,000-square-foot medical office at 1919 Lincoln Way in Coeur d’Alene. A separate $9.7 million permanent loan covered a 38,000-square-foot medical office elsewhere in North Idaho. Together the two buildings total 98,000 square feet and the combined financing works out to roughly $216 per square foot. The Lincoln Way loan equates to about $192 per square foot, while the other loan is about $255 per square foot.

Refinancing maturing debt is a routine but consequential step for commercial real estate owners. Replacing short-term or balloon debt with permanent financing reduces the chance of forced sales or lender-enforced workouts if borrowers cannot meet looming maturities. For healthcare tenants and patients, that reduction in financial pressure on building owners makes disruptions less likely, preserving clinic locations and the local access to medical care that many Kootenai County residents rely on.

The transactions also signal continued investor interest in medical office properties in the Coeur d’Alene market. Medical office buildings often command steadier occupancy than general office space because healthcare demand tends to be less cyclical, and lenders price that stability into loan terms. For local landlords, securing permanent financing can free capacity to invest in building maintenance, tenant improvements, or technology upgrades that improve patient experience.

Local fiscal effects are indirect but measurable over time. Well-managed, occupied medical properties contribute to the property tax base and support local employment through clinic operations, administration, and maintenance. Conversely, troubled financing can lead to vacancy, which depresses nearby commercial values and can reduce municipal revenues.

Residents should not expect immediate changes to clinic hours or services as a result of the refinancing; the primary effect is financial stabilization for property owners. Over the next 12 to 24 months, however, tenants and patients may see capital improvements or lease renewals as owners take advantage of the longer-term financing. For Kootenai County, the deals mean one less near-term threat to brick-and-mortar healthcare access and a modest vote of confidence in the region’s commercial real estate fundamentals.