» $4.8 Million - Hotel - Bakersfield, CA
Posted by Loan Closed
Avatar was approached to provide purchase and rehabilitation financing for this 173 room hotel and restaurant located in Bakersfield, CA. Within three weeks, Avatar funded the loan request allowing the borrower to close on the property with 100% of the rehabilitation budget needed.
- Loan Amount: $4,800,000
- Broker's Referral Fee: $74,000
- LTV: 58%
- Interest Rate: 8.9%
- Term: 24 months