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Avatar Provides Financing for Oregon Service Station
Avatar Financial Group, a Seattle-based national bridge lender specializing in commercial real estate, has closed on a $6.5-million bridge loan secured by a Union 76 Travel Stop in Talent, Oregon.
The financing went toward the $11-million purchase of the newly completed property, located along Interstate 5 in Oregon’s Medford/Ashland population corridor. Situated on a 4.15-acre site at 251 W. Valley View Rd., the 7,500-square-foot property features a gas station, a diesel truck fueling canopy, a shop building, and a convenience store.
The borrower, a seasoned operator with a portfolio that includes another gas station and two Days Inn hotels in Washington State, is entering the Oregon market for the first time with this acquisition. “This project is an exciting opportunity for the borrower as they expand into Oregon,” said T.R. Hazelrigg IV, President of Avatar. “With its prime location along I-5 and its brand new, modern, well-rounded amenities, the property is well-positioned for growth. We’re pleased to help bring their vision to life as they build on their experience in gas service and hospitality operations.”
