Bridge Loan for Dayton Ohio Retail Property Acquisition

Funded by Avatar Financial Group

1,400,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

20191231

Property Type
Retail
Property City

Dayton

Property State

OH

Deal Summary

Avatar Financial Group, a direct private mortgage lender, funded a $1,400,000 bridge loan for the acquisition of a retail center in Dayton, Ohio. 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

A different kind of loan. A different kind of lender.

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