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» $30 Million - Multifamily Portfolio

Posted by Loan Closed

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Our borrower is a large nationwide developer of student housing with a portfolio of properties that was set to be refinanced in a year end securitization. The four properties in Avatar's portfolio are new construction and did not achieve the occupancy requirement of 90% by the securitization date and were dropped. With the loans coming due at year end the borrower was facing a possible default situation. Avatar was able to underwrite and fund the transaction within 30 days and meet the year end closing deadline.

  • Loan Amount: $30,000,000
  • Broker's Commission: $450,000
  • LTV: 70%
  • Interest Rate: 8.25%
  • Term: 12 months



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