Avatar Financial Group Provides $1.95M Bridge Loan For Industrial Building In Blackwood

An industrial property located at 521 Route 168 in Blackwood, New Jersey, features a total square footage of 162,000 square feet and is situated on 3.7 acres. The property was recently financed through a loan amount of $1,950,000 provided by Avatar Financial Group. The loan has a term of two years and facilitates property stabilization in a competitive South Jersey industrial market.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $1,950,000
• Asset Size: 162,000 square feet
• Address: 521 Route 168, Blackwood, NJ
• Lender: TR Hazelrigg - Avatar Financial Group
• Loan Terms: Two-year

The financing provided by Avatar Financial Group is intended to recapitalize the sponsor, which is an affiliate tenant known as Arway Linen. This arrangement allows for capital recovery while the property stabilizes following its acquisition out of bankruptcy.