AVANT Capital Partners closes $2,350,000 conventional mortgage for retail center in Houston, TX

FOR IMMEDIATE RELEASE
Greenwich, Connecticut, United States of America (Free-Press-Release.com) January 5, 2012 -- AVANT Capital Partners (AVANT) has just closed another conventional mortgage in Houston, Texas. This $2,350,000 retail plaza loan is estimated to be 70% of property value. It features a ten year term amortizing over 25 years and has a fixed interest rate of 5.264%. The loan enabled the borrower to fully payoff their existing mortgage and establish reserves.

The property is a retail plaza shadow anchored by Wal-Mart Supercenter and Home Depot. This stabilized property is situated in a high-traffic area within an affluent neighborhood in Houston, TX and currently enjoys 100% occupancy.

The past months have seen AVANT with a strengthened position in the south, including target markets like Texas and Florida. “We like conventional deals in Texas,” said Adam Luysterborghs, AVANT’s managing principal. “This particular property is a solid performing asset with good cash flows and shows very well. Despite the fact that the borrower was from out of state, we were able to offer a very favorable interest rate for the client. The timely closing is also critical in this case, since the existing mortgage came due within 45 days of our initial review of the team. Our team worked efficiently to underwrite the deal and get it closed on time.”

The deal was closed under AVANT’s Commercial Premier Program, which offers loan sizes from $500,000 to $10,000,000 with up to 75% LTV. AVANT provides its clients with flexible underwriting, fixed rate pricing and competitive leverage.

For more information regarding these options, please follow the link below:

http://www.avant-capital.com/content/commercial/index.html

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