Avatar Financial Group LLC has provided $12 million in financing for a pair of luxury beachfront residences in Manhattan Beach. The two-year bridge loan represents a combined loan-to-value of 35%.
The debt is secured by 2020 The Strand, a 5,328-square-foot asset with seven bedrooms and eight bathrooms, and 2016 Ocean Dr., a five-bedroom, five-bathroom house totaling 4,306 square feet. Both properties are located in the Sand Section of Manhattan Beach, a coastal neighborhood known for beach access, ocean views and high home prices.
