Quick Service Restaurant Building Project
Avana Companies and a major client and investor recently closed a $2,250,000 loan deal to refinance a 2,992 square feet quick service restaurant building located at Rocky Mount, NC. The property is of concrete/masonry construction located on a 41,818 square feet commercially zoned site.
The investor purchased the property in May 2015. The purpose of the loan is to provide a cash-out refinance to the investor. The cash-out portion of the loan proceeds of $897,500 will go towards the acquisition of an investment property in Nashville, Tennessee.
Loan Details
| Location | Rocky Mount, North Carolina |
| Loan Amount | $2,250,000 |
| Loan Type | Retail |
| Loan Purpose | Refinance |
| Project Date | 11/15/2021 |
About AVANA CUSO
Established in 1998, AVANA CUSO is one of the most seasoned credit union service organizations (CUSO) with a focus on commercial real estate lending. Driving excellence through end-to-end customer service and our investments in technology, AVANA CUSO supports credit unions, including connecting them with commercial real estate entrepreneurs, brokers, and small business owners through participation lending.
Our mission is to help credit unions diversify their lending portfolios by expanding their lending programs beyond local communities, mitigating concentration risk while enhancing loan-to-share ratios.
Part of the AVANA Family of Companies, AVANA CUSO strives to improve communities by funding socially responsible projects that boost economic growth and foster job creation. AVANA CUSO is headquartered in Glendale, Arizona.
