Updated Aug 7, 2025
TR Hazelrigg Of Avatar Financial Group Provides $7.3M Bridge Loan For Houston Multifamily Properties
601 West Donovan Street & 4411 Fulton Street
$7,300,000
Units
138
Asset Type
MultiFamily
Closing
Aug 6, 2025
About this deal
AI
The transaction involved two garden-style multifamily properties located at 601 West Donovan Street and 4411 Fulton Street in Houston, comprising a total of 138 units—78 units in Donovan Village and 60 units in Station Apartments. The bridge loan provided for refinancing amounted to $7,300,000, with a two-year term issued at a 70% loan-to-value ratio.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $7,300,000
- Lender: TR Hazelrigg - Avatar Financial Group
- Loan Type: Bridge
- Loan Terms: two-year
- Units: 138
- Address: 601 West Donovan Street & 4411 Fulton Street
- Market: Houston
TR Hazelrigg represented Avatar Financial Group in providing the loan to refinance the properties. The borrower involved in this transaction was undisclosed.
Houston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93