Avant Capital acquires $1.983 million first mortgage loan

Manhattan, NY Avant Capital Partners has acquired a performing first mortgage loan with an outstanding principal balance of $1.983 million, secured by a first mortgage on a six-story mixed-use building in the Harlem sub-market.

The building contains sixteen residential apartment units and a ground-level retail space that is 90% occupied. Some of the units will undergo renovations. The subject is located in Central Harlem, an area featuring retail stores, quick-service restaurants, and service providers. Adjacent streets to the property contain well-maintained, late 19^th century brownstones, all with convenience to the subway station and Metro North Rail Road Station at 125^th St.

Avant Capital Partners provides mortgage financing to owners of commercial and multifamily real estate in the $2 to $15 million range. They focus on properties in the New York Metropolitan area, California and other major markets nationwide. They are experiencing strong demand for our bridge loan product as commercial banks have reduced commercial real estate lending or are unable to meet borrowers’ closing timelines. In addition to quick close transactions, Avant also finances under-performing and transitional properties, borrowers with imperfect credit histories and other non-conventional transactions. Avant seeks to provide their investors current income, capital preservation and attractive risk-adjusted returns relative to traditional fixed income investments. Avant’s investment team is comprised of senior investment professionals with experience in real estate, loan origination, loan servicing, restructuring and asset management. They have offices in New York, Chicago and Los Angeles.