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Our sponsor is an experienced real estate developer who specializes in repositioning multifamily properties. The current loans for the latest project were due in full and additional time was needed to complete the rehabilitation of one property and stabilization of a second property prior to obtaining conventional financing. Avatar was able to refinance the loan on each property and provide the remaining funds and time needed to successfully stabilize the property and complete the renovation as planned. read more

Avatar was asked to submit a proposal for the $19,000,000 refinance and renovation of a $28,000,000 real estate portfolio consisting of three hotels, three restaurants and an office building in New Jersey. The sponsor's existing loan was set to mature within 30 days. Conventional refinancing had been unsuccessful because... read more

Our sponsor received and accepted an offer to sell this 30-unit apartment complex in New Mexico. The buyer used conventional financing with a lead time of 90 days to close. Meanwhile, our sponsor's existing debt on the property was set to mature. Avatar was asked to and successfully completed the refinance of existing debt and provided a bridge to complete the sale quickly. read more

A major tenant of this office building vacated as the sponsors original bank financing was maturing. Avatar was able to refinance the existing debt and provide reserves for tenant improvements, leasing costs and interest. read more

The borrower occupied the subject property with her interior design company for many years. Due to dramatic increases in rental rates, she decided to downsize, move her firm and lease out the subject property. To do so the borrower requested Avatar to refinance the property and pull cash out to fund other investments, moving expenses and general reserves. read more

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