Greenwich, CT (PressExposure) April 17, 2013 -- AVANT Capital Partners (AVANT), a leading Greenwich CT based commercial real estate lender, has originated a series of small balance loans in the first quarter of 2013.
The completed series of transactions included:
The recapitalization of an owner occupied office/industrial building with an SBA 7a loan.
The refinance of a stabilized multifamily property.
The offices/industrial building was refinanced after the owner negotiated a payoff with his existing bank on a discounted basis. The reduction of this borrower's long term liabilities puts the company on a path for future growth and profitability. The loan request had several challenges, including the existing loan being in forbearance, the property under-appraising, unforeseen environmental issues, and the borrower having limited liquidity.
The property is a single story industrial building that contains approximately 40,075 square feet of land area. The building is utilized in a light industrial capacity as a machine shop and was originally built in 1929. The building consists of a private office, storage space, and a dock area at one end of the building with the remainder being clear span space for an open shop area. The property is located in central-western section of the City of Pittsfield approximately three miles outside of the Pittsfield CBD in Massachusetts.
Another recently originated loan was for the refinance of a multifamily property located in Dallas TX. The loan provided the buyer with a 5-year fixed interest rate that was in the low 4.00%'s and a 25-year amortization.
"Timely closing is critical when discounted note payoffs are involved", says Adam Luysterborghs, Managing Principal of Avant Capital Partners. "We take care on every loan application, no matter how large or small, to bring about the best possible result for our borrowers. In that regard, we offer bridge, SBA and conventional loans so that we can fit a wider range of specific needs."
Avant Capital Partners is a direct commercial real estate lender. The company provides commercial mortgages for stabilized and in-transition investment and owner occupied properties nationwide. They offer permanent financing solutions for stabilized assets and bridge or interim loans for properties that are in-transition.
For more information about Avant Capital Partners, please contact: