Bridge Loan for Retail Property Acquisition in Dayton, Ohio

Funded by Avatar Financial Group

$1,400,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

12/31/2019

Property Type
Retail
Property City

Dayton

Property State

OH

Loan Term (months)

24

Lien Type

1st Mortgage

Payment Type

Interest Only

Loan-to-Purchase Price

70%

Borrower's Contribution to Purchase

30%

Source of Borrower's Contribution

Cash

Interest Rate

8.99%

Broker Commission

$22,000

Deal Summary

Avatar Financial Group, a direct private mortgage lender, funded a $1,400,000 1st lien position bridge loan for the acquisition of a retail center in Dayton, OH. The Sponsor is a foreign national investor that required a quick close. Avatar was able to provide the funds requested to close the transaction prior to the year-end deadline. The Sponsor contributed 30% cash to the closing, and Avatar funded 70% of the purchase price. Our interest rate was 8.99% and the loan term was 24 months. The deal was brought to us by a mortgage broker to whom we paid a commission of $22,000. This CRE bridge loan was funded in December 2019.

Funded By

Avatar Financial Group

Direct Bridge Lender for Commercial Real Estate Nationwide