A Hilton Garden Inn received financing of $5.3 million for a 12-month term of 8%. Avatar Financial Group provided the bridge loan to backfill another maturing loan due on the property, which is currently listed for sale. Avatar’s TR Hazelrigg says the financing allowed the sponsor to meet current obligations by providing immediate cash flow and afford financing until a sale of the hotel is complete.

The 22,000 square-foot full-service hotel is valued at $10.1 million. The 100-room property is just off I-20 and is 12 miles from Midland International Airport.

Avatar is an institutionally funded portfolio lender which controls over $100 million in funds to make hard money bridge loans. The company has completed over $1 billion in loans.