Local shop Avatar Financial Group announced its recent provision of bridge loans totaling $5.8 million for four out-of-town properties. The beneficiaries were two industrial buildings in Marietta, Georgia; a Days Inn by Wyndham hotel in Clinton, North Carolina; and the buyer of an industrial property near Chicago. Avatar’s T.R. Hazelrigg IV said in a statement, “Avatar provides responsive bridge funding to allow sponsors the ability to meet their obligations and close deals. Our direct lending capabilities enable investors to seize opportunities that otherwise may be out of reach.” The firm has over $100 million in funds to make hard-money bridge loans, in amounts generally ranging from $1 million to $35 million.
As Covered in Daily Journal of Commerce