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AVANA Companies, a family of ESG lending and investment platforms, recently closed a $1.1 million loan to a real estate investor to refinance a self-storage facility in Soledad, California.
The investor acquired the facility in 2021 and needed a rate and term refinance for long-term stability with a lower interest rate. The property has strong primary cash flow and historical performance, even during the pandemic.
Extensia Financial/AVANA Capital provided the California based investor with a 10-year conventional commercial real estate MBL loan. With this financing, the borrower now has the capital needed to run a successful business.
|Loan Purpose||Rate & Term Refinance|
|Loan Type||Conventional CRE|
|Project Date||December 29, 2021|
About Extensia Financial LLC
Extensia Financial (Extensia) is one of the most seasoned credit union organizations (CUSOs) focused on commercial real estate. Established in 1998, Extensia is an ESG customer service-driven organization connecting credit unions with commercial real estate brokers, commercial mortgage brokers and local investors through participation lending of socially responsible projects. Extensia partners with credit unions to diversify their lending portfolios, expanding credit union lending programs beyond their communities and mitigating concentration risk while increasing their loan to share ratio. Like its parent company AVANA, Extensia Financial strives to impact communities with clean energy projects that boost economic growth and jobs. The company is headquartered in Simi Valley, California. To learn more, visit www.extensiafinancial.com or follow Extensia on LinkedIn.