Florida & Gulf Coast CRE News In Your Inbox.

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

Sub Markets

Property Sectors

Topics

Florida & Gulf Coast  + North Florida  + Finance  | 
Avatar Financial Group has closed a $1.4-million bridge loan for a multifamily property at 103 Cactus Street in Tallahassee, FL.

Avatar Financial Group Provides $1M Bridge Loan for Tallahassee Multifamily

Avatar Financial Group has closed a $1.4-million bridge loan for a 12-month term at 8.99% on behalf of a low-rise multifamily property located at 103 Cactus Street in Tallahassee, FL.

Avatar’s loan provided funds for construction completion as well as an interest reserve enabling the property to be stabilized with new tenants. The owners will conventionally refinance the property once renovation is completed.

The two-story property is situated between Florida State University, Florida A&M University and Tallahassee Community College and is valued at $2.6 million. The complex was constructed in 1994 with 24 one-, two- and four-bedroom units. It measures 17,550 square feet and is sited with frontage on a main access road close to shopping and services and Tallahassee International Airport. Avatar Financial Group is an institutionally funded portfolio lender that controls over $100 million in funds to make hard money bridge loans. The company specializes in the alternative commercial mortgage lending space.

Connect

Inside The Story

Avatar Financial Group

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Financing
New call-to-action