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» Seattle Parking Lots - Refinanced with help from Avatar

Property Description:

The primary collateral for the deal was four parking lots in downtown Seattle, WA. Avatar also obtained junior liens on two office buildings owned by the borrower - a premier developer and commercial owner in Seattle.

The parking lots were financed with poor terms. Avatar helped by funding the deal and recognizing the lots as improved real estate rather than 'land-only' enabling the borrower to fund the deal with a lower interest rate and terms of 3 years.

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