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» $5.1 Million - Two Apartment Complexes - Bay Harbor Island, FL

Posted by Loan Closed

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Our Sponsor purchased the subject properties with numerous outstanding violations from the city. In addition our sponsor assumed the existing debt on the property which was due. Avatar's loan allowed the borrower to refinance the existing debt, resolve the outstanding violations with the city and provide $454K for additional rehabilitation to the property. 

  • Loan Amount: $5,100,000 
  • Broker's Commission: $76,500
  • LTV: 66%
  • Interest Rate: 8.99%
  • Term: 18 months



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