In today’s conversation, we sit down with Jerry Zevenbergen and TR Hazelrigg, co-founders of Seattle-based Avatar Financial. As CEO and President, Jerry and TR, respectively, run an organization focused on bridge lending across the commercial real estate spectrum, and they give us a sense of where the industry is today and…
Podcast: Jerry Zevenbergen (CEO) & TR Hazelrigg (President), Co-Founders of Avatar Financial
Bridge Lender Starts Fund, Adds Staff
Avatar Financial Group, a bridge lender that targets loans up to $35 million, is ramping up its business after launching a fund and hiring two origination pros. The firm expects to originate about $130 million this year and about $200 million in 2022, up from the $80 million it wrote in…
Puget Sound Daily Journal of Commerce REIT Fund Launched
Avatar Financial Group creates a Commercial Mortgage Fund with a REIT Structure Avatar Financial Group announced the recent creation of a new commercial mortgage fund with a REIT structure. The minimum investment, via private placement offerings, is $100,000. Firm co-founder and president T.R. Hazelrigg IV said in a statement, “In the past, investors have…
Vacation hot spot Chelan County limits short-term rentals
Following months of tension between long-term residents and rental owners near sought-after tourist spots east of the Cascades, new regulations will soon limit the number of rentals listed on sites like Airbnb in Chelan County. In a win for those currently renting out vacation homes, though, most will be allowed…
Nonbank Lenders Are Dominating the Mortgage Market
Nonbank Lenders are Outpacing Traditional Banks Americans took out more mortgages than ever before in 2020. Most of them didn’t come from banks. Nonbank mortgage lenders in the U.S. issued 68.1% of all mortgages originated in 2020, up from 58.9% in 2019, according to industry research firm Inside Mortgage Finance.…
A look at nonbank loans and the alternative lending industry business model in 2021
All About Nonbank and Alternative Lending in 2021 Nonbanks and alternative lending institutions are making their way into the banking industry – posing a major threat to incumbent banks. Alt lenders’ ability to utilize technology and provide efficient and effective lending services to underserved businesses and individuals is allowing them to penetrate…
Avatar Financial Group funds $4.7 million loan for Niagara Falls hotel development project
Commercial Hospitality Loan in Niagara Falls, NY Niagara Falls, NY Avatar Financial Group provided financing to fund a complete refurbishment and repositioning of a 58-room hotel. The $4.7 million loan will allow the sponsor to finish the project just in time for the kickoff of the tourist season. “Avatar identified this…
Market Dislocation: COVID-19 Impacts on CRE Lending
Impact of COVID-19 on CRE Lending While COVID has impacted the commercial real estate world in many ways, perhaps none is more profound than in the lending sector. Connect recently chatted with T.R. Hazelrigg IV, president and cofounder of nationwide direct lender Avatar Financial Group, to get insights into just…
Despite Market Disruption, Abundant Capital Options Remain
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…
Avatar Financial Launches New Commercial Mortgage Fund
Avatar Financial Group launched a new commercial mortgage fund with a REIT structure that delivers a streamlined experience to investors including a steady deployment of capital. The new fund, Avatar Commercial Mortgage REIT LLC, will raise money through an offering of membership interests, so investors will become equity owners in…
