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» $13 Million - Multifamily Apartments - Houston, TX

Posted by Loan Closed

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Purchased in 2015 for approximately $9 million, the sponsor has since invested an additional $6 million in improvements. Avatar's loan refinanced the existing debt, provided $3 million of cash out to the Borrower and funded an additional $1 million of improvements to the property. 

  • Loan Amount: $13,000,000
  • Broker's Commission: $65,000
  • LTV: 71%
  • Interest Rate: 9% 
  • Term: 12 months


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