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Our sponsors purchased this 20-room hotel in early 2019 in an all cash deal and approached Avatar at year-end to provide a cash-out loan to buy out one of the partners in the project. Avatar was able to provide our sponsor with the cash required in the time period needed for a successful transaction for all parties. read more

Our borrower is a large nationwide developer of student housing with a portfolio of properties that was set to be refinanced in a year end securitization. The four properties in Avatar's portfolio are new construction and did not achieve the occupancy requirement of 90% by the securitization date and were dropped. With the loans coming due at year end the borrower was facing a possible default situation. Avatar was able to underwrite and fund the transaction within 30 days and meet the year end closing deadline. read more

Our sponsor, a foreign national, approached Avatar to assist with the acquisition of a retail center that required a quick close. Avatar was able to provide the funds requested to close the transaction prior to the year-end deadline. read more

Located within one of the most expensive zip codes in the United States, with over 137 feet of waterfront, this investment property loan was due. A short term bridge was needed quickly to avoid additional fees and provide time to obtain long term conventional financing. Avatar was able to refinance the property in a week's time and provide our sponsor with the time needed. read more

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

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