Recent Deals
» $7.5 Million in Funding Provided for Kent, WA Office Building
Property Description:
The loan was made for a 200,000+ ft, early 1990s office building in Kent, WA with a current NYSE company currently leasing the space. The building appraised for $10mil+ and was investigated for the potential to convert to use for multiple tenants should the primary occupant opt-out of a future lease.
By using Avatar Financial Group's quick-turnaround loans, the buyer of this property was able to lock-in low rates and make up the loan in a matter of weeks with conventional financing. Avatar completed the loan fast and used flexible financing based on the buyer's personal equity to provide a high LTV.
By investigating the building's current value as well as the alternatives if the building should be under-leased, Avatar was able to cover all the bases and make a good deal come to fruition quickly.
