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Warehouse - North Highlands, CA

Posted by Avatar Financial

Avatar provided a $7.3 million  refinance loan for a 155,800-square-foot industrial warehouse in North Highlands, California. The property is owner-occupied by a business with a 35-year history. Due to COVID-19 related challenges, the tenant’s business decreased, and it could not meet a loan covenant. Avatar’s loan paid off the real estate mortgage and line of credit. 

  • Loan Amount: $7.3 million
  • LTV: 65%
  • Interest Rate: 8.99%
  • Term: 2 Years

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