High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
California  + Los Angeles  + Finance  | 

Avatar Provides Financing for Luxury Beachfront Residences

Avatar Financial Group LLC has provided $12 million in financing for a pair of luxury beachfront residences in Manhattan Beach. The two-year bridge loan represents a combined loan-to-value of 35%.

The debt is secured by 2020 The Strand, a 5,328-square-foot asset with seven bedrooms and eight bathrooms, and 2016 Ocean Dr., a five-bedroom, five-bathroom house totaling 4,306 square feet. Both properties are located in the Sand Section of Manhattan Beach, a coastal neighborhood known for beach access, ocean views and high home prices.

The sponsors, private investors who run a global holding and investment group, will use the funds for business purposes. “We’re seeing continued strength in high-demand coastal markets like Manhattan Beach, where the appetite for premium properties remains strong despite broader market fluctuations,” said Avatar president, T.R. Hazelrigg IV. “Our flexible financing solutions allow us to support investors looking to leverage high-value real estate while maintaining liquidity for other business endeavors.”

Connect

Inside The Story

Avatar Financial

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
New call-to-action
New call-to-action
New call-to-action