Our sponsor purchased the property in 2014 for approximately $2.5MM and has since invested over $1.3MM in improvements. Avatar was asked and was able to refinance the existing debt and provide over $2MM cash out to the borrower.

• Loan Amount: $4,500,000
• Broker’s Commission: $22,500
• LTV: 75% LTV
• Interest Rate: 9%
• Term: 18 months