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» $1 Million - Apartment Building - New Mexico

Posted by Loan Closed

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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. 

  • Loan Amount: $1,000,000
  • Broker's Commission: $10,000
  • LTV: 51%
  • Interest Rate: 8.99%
  • Term: 12 months


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