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The property is currently owned free and clear and is in excellent condition with numerous recent upgrades. The property is on a quiet residential street and each unit has its own covered parking spot. The guarantor is purchasing an investment property in Texas and will be utilizing the cash out as part of the down payment. The guarantor has excellent credit and strong net worth. The borrower will retire Avatar's debt with a conventional refinance. read more

The sponsor has sold another property and is utilizing a 1031 exchange in order to purchase this property without having to pay taxes on the profit of the recently sold asset. The current owner will lease the property back for a short period of time. The borrower has leased the building with a five-year term. The property is in a cannabis approved area of Canoga Park and the tenant will utilize the property for packing and distribution of cannabis to retailers. read more

The guarantors built the subject properties and the four units are now fully occupied. Avatar's debt will retire the construction debt and bridge the property to a conventional refinance. read more

This is a repeat borrower with Avatar who has maintained an excellent payment history. The Borrower is purchasing the 17th Street property in an extremely strong market and is utilizing a currently owned property as additional security. With Avatar's loan, the borrower was able to offer the seller a quick close to beat out competing offers. The borrower plans to make some renovations, rent the property, and then conventionally refinance Avatar's debt. read more

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