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December 19, 2024

Avatar provides $14M in holiday swag

By JOURNAL STAFF

Based here in Seattle, Avatar Financial Group makes loans all around the region, and all around the county as well. The firm recently announced $14 million in bridge funding to the unnamed owner of a small retail portfolio. Those properties include a Dollar Tree in Milwaukee; a CVS in Montevallo, Alabama; and three Rite Aid stores in Hellertown, Lebanon, and Punxsutawney Pennsylvania. The two-year loan, with a nearly 11% rate, is a preparatory step toward selling after old debt is retired and upgrades are made, says Avatar. The company said in a press release, “Despite the challenges facing some retailers in today's market, this portfolio demonstrates the enduring value of well-located properties with strong tenant demand.”




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