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AVANA Companies, a family of ESG lending and investment platforms, recently closed a $5 million loan to a real estate investor. The loan will be used for the acquisition of a 50-unit multi-family, apartment complex located in Hickory, NC.
The property is a 50-unit low-rise multifamily property. It was constructed in 1973 and renovated in 2015 by the current owner. The unit mix at the apartment complex consists of two- and three-bedroom units with an average unit size of 927 square feet.
The property is ideally located within a short distance of restaurants, shops, and grocery stores.
| Loan Amount | $5,000,000 |
| Loan Purpose | Acquisition |
| Loan Type | Multi-Family |
| Project Date | April 25, 2022 |