Bookmark and Share

» $3.1MM Gas Station / Retail Center - Detroit Area, MI

Posted by Loan Closed

simongas2.jpg

The sponsor owns a large portfolio of gas stations and other commercial properties. The sponsor approached Avatar to refinance the subject properties with enough cash out to pay off existing debt related to the other business interests. Avatar was able to provide the proceeds needed to increase the sponsor's global available cash flow for operations.

  • Loan Amount: $3,100,000
  • Broker's Commission: $46,500
  • LTV: 64%
  • Interest Rate: 9.99%
  • Term: 24 Months


Recent Deals