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Recently Closed Transaction
Scott Unger
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Loan Summary
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Loan Type:
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REO Purchase Financing
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Property Type:
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Best Western Plus Hotel
| | Location: | Indiana | | Loan Amount: | $4,200,000 | |
LTC:
| 89% |
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Scenario: Our Sponsor had an opportunity to purchase this hotel from a local lender at a substantial discount to market value. The lender received backup offers of $1M+ over our Sponsors contracted price, resulting in a hard close date of less than 2 weeks that the lender was unwilling to extend. The Sponsor put down only 11% cash on this purchase, but gave us a new lien on another hotel he owned as additional collateral.
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Bridge & Hard Money Loans
Direct Private Lender on Commercial Property Nationwide
- Debt restructuring or pay downs
- Acquisition of properties or portfolios
- Transitional properties
- Defaulted note purchases
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Scott Unger 
(310) 850-4044
scott@avatarfinancial.com
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