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June 24, 2021
Avatar launches new REIT
Avatar Financial Group announced the recent creation of a new commercial mortgage fund with a REIT structure. The minimum investment, via private placement offerings, is $100,000. Firm co-founder and president T.R. Hazelrigg IV said in a statement, “In the past, investors have participated in Avatar originated loans on a loan-by-loan basis.” In the new vehicle, an investor will become an equity owner in the entire fund, rather than only in a particular loan. Hazelrigg will manage the new fund, along with Jerry Zevenbergen. Verivest LLC will provide back-end and advisory support.