- Loan Amount: $4,200,000
- LTV: 70%
- Interest Rate: 7.99% for the first six months and 8.99% thereafter
- Term: 2 years
Avatar provided a $4.2 million commercial bridge loan for a storage facility in Spokane, Washington. Avatar’s loan provided the capital needed to acquire the property and establish a twelve-month payment reserve to provide the sponsor with runway- This will stabilize the property during the term of Avatar’s loan. The sponsor expects to refinance with a conventional loan after establishing some operating history.
This style property is located in Spokane 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.