Post by Avatar Financial Group

Avatar Financial Group has just closed on $1.95M to #finance a 162,000-SF #industrial property in Blackwood, NJ. The bridge loan was funded just three weeks after the sponsor took the asset down all-cash out of bankruptcy. The sponsor moved fast to win a distressed acquisition. Avatar’s two-year loan returned a portion of their capital so they could put it back to work without locking the asset into long-term debt before operations had fully ramped. The property is occupied by Arway Linen, an affiliate of the sponsor, providing stable in-place income through to the planned exit via a conventional refinance. Post-close recaps like this are where bridge debt earns its keep. #cre #privatedebt #bridgeloan #crefinancing #avatarfinancial