Avatar Financial Group, a Seattle-based national bridge lender specializing in commercial real estate, has closed on a $14-million bridge loan to refinance a portfolio of five retail assets spanning three states.
Totaling 65,491 square feet, the properties are all under long-term, triple-net leases with established tenants and strong operational performance. The two-year bridge loan features a 10.99% interest rate and a loan-to-value ratio of 55%. The portfolio was originally acquired a decade ago for $24.4 million, with the sponsor investing significant capital in property upgrades and lease renewals.
