GREENWICH, CT, February 24, 2013 /24-7PressRelease/
-- AVANT Capital Partners (AVANT), a leading Greenwich CT based commercial real estate lender, has originated a series of small balance bridge and conventional loans in the fourth quarter of 2012.
The completed series of transactions included:
- Acquisition bridge loan to purchase a development site in New York.
- The recapitalization of business oriented real estate with an SBA 7a loan.
- Conventional purchase loan for a multifamily property located in Sea Cliff, NY.
- The cash-out refinance of owner occupied real estate with a conventional loan in Little Rock, AR.
One of the recently originated loans was for the acquisition of a multifamily property located in Sea Cliff, NY. The loan provided the buyer with a 10-year fixed interest rate that was in the low 4.00%'s and a 30-year amortization. The buyer, a local attorney, expressed that he was pleased with the financing, as well as the timeliness of closing and the efficiency with which the loan was processed.
Sea Cliff, NY is a highly desirable village in the Town of Oyster Bay in Nassau County, NY. Properties located in this town enjoy breathtaking views of Hempstead Harbor, Long Island Sound, and the New York and Connecticut Shorelines. Notable past residents include Robert Olen Butler Pulitzer Prize winning novelist, William Cullen Bryant, poet and journalist and Natalie Portman.
"Execution is critical when it comes to acquisitions", says Adam Luysterborghs, Managing Principal of Avant Capital Partners. "In this case you had a highly desirable asset that was extremely well-located. The Seller had other offers and those buyers were just waiting for a sign that the deal might be back on the table. We had to make sure that our process was carefully orchestrated to prevent our borrower from losing his contract on the property."
Avant Capital Partners also originated a 20-year loan for Higher Ground Electric Co. which was secured by the company's headquarters building located in Little Rock, AR. This loan enabled the company to recover a portion of the capital invested into the construction of the 6,000 square foot industrial property. Alan Thompson, CEO of Higher Ground Electric, said "the project financing was critical to the future of our business. The Avant professionals showed me a clear path from beginning to end. Each action step was controlled and monitored."
About Avant Capital Partners--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:
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