$3.4MM – Apartment building – Baytown, Texas

  • Loan Amount: $3,400,000
  • Broker's Commission: $17,000
  • LTV: 74%
  • Interest Rate: 9.00%
  • Term: 1 year

Description

Avatar provided a $3.4 million multifamily bridge loan for an apartment building in Baytown, Texas. The sponsor purchased this distressed property in 2012 for $750,000. Additionally, the sponsor invested $1 million in improvements and increased occupancy to 95%. Avatar’s loan refinanced the existing debt and provided $775,000 of cash to the borrower.

  • Loan Type: Multifamily Bridge
  • Loan Amount Range: $1M - $4.99M

This style property is located in Baytown is currently and has been listed on Avatar Financial Group. This property is listed at . It has bedrooms, bathrooms, and is . The property was built in year.

Avatar provided a $3.4 million multifamily bridge loan for an apartment building in Baytown, Texas. The sponsor purchased this distressed property in 2012 for $750,000. Additionally, the sponsor invested $1 million in improvements and increased occupancy to 95%. Avatar’s loan refinanced the existing debt and provided $775,000 of cash to the borrower.

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AVATAR FINANCIAL GROUP

1200 Westlake Avenue N, #1006
Seattle, WA 98109

Office: 206.728.5900
Toll-Free: 1.888.886.0097

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[email protected]

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