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 participated in Avatar originated loans on a loan-by-loan basis.” In the new vehicle, an…
Puget Sound Daily Journal of Commerce REIT Fund Launched
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
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. That is their highest market share…
A look at nonbank loans and the alternative lending industry business model 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 the market and find success. Below we break…
Avatar Financial Group funds $4.7 million loan for Niagara Falls hotel development project
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 hotel redevelopment project as an opportunity that…
Market Dislocation: COVID-19 Impacts 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 how deep the impact has been,…
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…
Mark Holman Joins Avatar as a Director in Dallas
Seattle-based Avatar Financial Group, which specializes in commercial hard money bridge loans, recently added Mark Holman to the company’s expanding team. He will serve as a director based in Dallas. Holman’s responsibilities will be primarily focused on the underwriting, evaluation, analysis and due diligence processes associated with the loan origination…
Avatar Funds Hotel Development Project in Niagara Falls, New York
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 hotel redevelopment project as an opportunity that…
