Avant Capital: Featured Transactions
Lakewood Villas – Multifamily Bridge
Avant Capital Partners provided a $3,300,000 loan for the refinance and renovation of a Lakewood Apartments, a 200-unit apartment complex in Waco, TX. The 12-month interest-only loan was secured through Avant’s relationship with a closely held private equity fund.
Lakewood Estates Apartments – Multifamily Bridge
Avant Capital Partners provided a $4,575,000 bridge loan for the acquisition and renovation of Lakewood Estates Apartments, a 209-unit apartment complex in Oklahoma City, OK. The loan was made on a 18-month term with interest only payments at a rate of 5.25% (Prime+2%). The loan was based upon 70% loan-to-costs and provided an initial funding of $3,025,000 for the $4,950,000 purchase and 100% of the renovation costs. The loan is convertible to permanent financing upon completion of the renovation and lease-up.
Mi Pueblo Shopping Center & Canoga Plaza – Commercial Premier
Avant Capital Partners provided a $17,500,000 loan for Mi Pueblo Shopping Center and Canoga Plaza, a 101,922-s.f. grocery-anchored shopping center and a 15,360-s.f. retail strip center located in El Monte and Canoga Park, California, respectively. The loan was made on a 10-year term, amortized over 30 years, at an interest rate of 6.44%.
Holiday Inn Grand Island – Commercial Premier
Avant Capital Partners provided a $6,250,000 permanent loan for the Holiday Inn Grand Island, a 263-room full service hotel, located in Grand Island, New York. The non-recourse loan was made on a 5-year term and amortized over 30 years at an interest rate of 6.67%
Camelwest Office Plaza – Bridge Loan
Avant Capital Partners provided an $8,500,000 bridge loan for the acquisition and redevelopment of Camel West Offices, a 176,094-s.f. multi-tenant Class “A” office property located in Phoenix, Arizona. The loan was made on a 36-month term with a rate of 3.45% over LIBOR.