Despite Market Disruption, Abundant Capital Options Remain

News/07/22/2021

Four recent transactions showcase various opportunities to place capital despite the market dislocation caused by the pandemic, says Jerry Zevenbergen, CEO and co-founder of Avatar Financial Group. Avatar recently closed four financings totaling nearly $8 million for industrial and residential properties in three states.

The loans were for an industrial asset in Canoga Park, CA, an apartment property in Pasadena, CA, four residential condominiums in Caldwell, NJ and two single-family residences in Coeur D’Alene, ID.

The industrial deal in Canoga Park was a $3.4 million 24-month loan that allowed the borrower to complete the upleg in a 1031 Exchange. The current owner will briefly lease the property back. The borrower is leasing the building with a five-year term.

The second transaction in Southern California involves a 1950s-era 16-unit apartment complex in South Pasadena that received a $2 million bridge loan executed under a one-year term. The guarantor is buying an investment property in Texas and will be utilizing the cash out as part of the down payment. The borrower plans to retire Avatar’s debt with a conventional refinance.

The financing in Caldwell was for four residential condominiums that received $1.4 million in bridge financing.

Read More

MORE NEWS

wispy-cloud-sunset-over-puget-sound-near-seattle-LWJQUNE

Puget Sound Daily Journal of Commerce…

07222021_Lake-Chelan_171147-2040x1269

Vacation hot spot Chelan County limits…

Nonbank Lenders Are Dominating the Mortgage Market

Nonbank Lenders Are Dominating the Mortgage…

86E446D3

A look at nonbank loans and…

Avatar Financial Group funds $4.7 million loan for Niagara Falls hotel development project

Avatar Financial Group funds $4.7 million…

Market Dislocation: COVID-19 Impacts on CRE Lending

Market Dislocation: COVID-19 Impacts on CRE…

dmd

Despite Market Disruption, Abundant Capital Options…

jerry

Avatar Financial Launches New Commercial Mortgage…

mark

Mark Holman Joins Avatar as a…

Hotel, Niagara Falls NY

Avatar Funds Hotel Development Project in…

CONTACT US

Let's Talk

AVATAR FINANCIAL GROUP

1200 Westlake Avenue N, #1006
Seattle, WA 98109

Office: 206.728.5900
Toll-Free: 1.888.886.0097

For information about loan programs or loan
requests, email us at:
[email protected]

Avatar Financial Group Logo

STAY CONNECTED

Subscribe to our newsletter for company updates & industry news:

mba_member_logo_150
BBB-ab-seal-horizontal-black-largenEW
verivest-verified-gold-small

Copyright 2021 Avatar Financial Group © All Rights Reserved. Privacy | Terms of Service | Disclaimer