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» $3.4 Million - Multifamily - Baytown, TX

Posted by Loan Closed


The Sponsor purchased this 79-unit apartment building as part of a distressed sale in 2012. Since purchase the borrower has invested in substantial capital improvements, successfully stabilizing the property along the way. Avatar was asked, and was able, to refinance the existing debt and provide cash out to the Borrower to use for another investment opportunity. 

  • Loan Amount: $3,400,000
  • Broker's Commission: $17,000
  • LTV: 74%
  • Interest Rate: 9% 
  • Term: 12 months

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