Seattle-based national bridge lender, Avatar Financial Group, recently closed a $6.5-million bridge loan for the purchase of a Union 76 Travel Stop in Talent, Oregon. The property is located along Interstate 5 in the Medford/Ashland population corridor and was purchased for $11 million.
The newly completed property sits on a 4.15-acre site at 251 W. Valley View Rd., featuring modern amenities such as a gas station, diesel truck fueling canopy, shop building and convenience store spanning over 7,500 square feet.
The borrower is an experienced operator with properties including another gas station and two Days Inn hotels in Washington State. This acquisition marks their first venture into the Oregon market and they are excited about this opportunity to expand their portfolio.
T.R Hazelrigg IV , President of Avatar Financial Group stated that this project presents great potential for growth due to its prime location along I-5 and state-of-the-art facilities. He also expressed pleasure in helping bring the borrower’s vision to life as they enter into new territory within both gas service operations and hospitality industry experience.
