Avatar's Blog
» Defining Improved Commercial Properties
Avatar Financial Group funds bridge loans for improved commercial properties. We are often asked what that term entails. For Avatar's lending criteria purposes, the definiaton of an improved commercial property is a piece of real estate with a building on it. If the real estate is comprised of land that has been subdivided and utilities and roads have been introduced to the properties, it may technically be improved, but it still does not qualify for an Avatar loan. This kind of property is still considered 'raw land' - it has no buildings on it yet.
Avatar does fund properties with very large land-to-building ratios. For example, golf courses, ski resorts, RV parks, trailer parks, etc. all qualify for Avatar hard money loans - and many of these types of properties have been funded in the recent past. The qualifier is that the property be income producing. Therefore, if a golf course has a substantial club house and a good balance sheet, it qualifies for a loan. Same goes for tennis clubs, and similar sport complexes. Even parking lots may qualify. Present a solid financial balance sheet and your income producing property is likely to qualify.
