How Lenders Really Size Your Loan (Explained by Gantry) with Mitch Walsh, Director of CRE Debt & Equity Originations at Gantry

Mitchell “Mitch” Walsh is the Director of CRE Debt & Equity Originations at Gantry, with over nine years of experience in commercial real estate finance. Based in the St. Louis area, Mitch has underwritten and closed loans across multifamily, industrial, retail, and other asset classes and has been part of Gantry’s growth following its acquisition of Triad. He helps sponsors structure deals with life insurance companies, agency lenders (Fannie Mae, Freddie Mac), and CMBS providers, leveraging his deep market knowledge and relationships. LinkedInIn this episode, Mitch takes listeners through what lenders focus on when sizing loans — NOI, market vs. actual vacancy (with a “floor” vacancy assumption), and expense verification. He breaks down loan structure trade-offs: which lenders are best for which scenarios, how interest rate/spread environments affect proceeds, and what sponsors should expect in terms of DSCR, LTV, and prepayment terms. The conversation also touches on how Gantry’s scale and servicing insights give Mitch real-time visibility into expense benchmarks and underwriting norms. The takeaway: doing your underwriting homework, trusting your data, and ensuring you’re matching your goals (hold period, exit, refinancing) to the right lender product.Connect with the HostTwitter: ⁠twitter.com/ItsRajTut LinkedIn: ⁠https://www.linkedin.com/in/rajtut/ Instagram: ⁠instagram.com/ItsRajTut TikTok: ⁠https://www.tiktok.com/@itsrajtutConnect with the GuestLinkedIn: https://www.linkedin.com/in/mitchellwalsh/ Gantry Website: https://www.gantryinc.comTimestamps for Key Segments00:00 Intro and loan sizing example ($10M deal, $7M loan)01:56 Mitch’s background and path into real estate finance07:12 Triad’s merger into Gantry and what it means for sponsors08:41 How lenders underwrite: NOI, vacancy, expenses, DSCR13:09 “Trust but verify” — protecting lender and sponsor reputation15:16 Matching loans to business plans and prepayment considerations20:12 Life-co vs. Fannie/Freddie vs. CMBS — pros and cons27:20 Servicing and real-world client support (insurance example)29:13 Deals closing in today’s market and rate environment insights38:33 Mentorship, career lessons, and Mitch’s “Just do it” adviceThis podcast is brought to you by Storyboard Living.If you're looking to sell us a 40+ unit multifamily property in the St. Louis region, or another part of MO/IL, please email [email protected] with us at our Website: https://storyboardliving.com/LinkedIn profile: https://www.linkedin.com/company/storyboard-living/