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.