Avatar Financial Group LLC, a national bridge lender for commercial real estate based in Seattle, WA, recently provided $6.4 million in financing for the Bodega Coast Inn and Suites located on Northern California’s Sonoma Coast in Bodega Bay. The bridge loan has a 2.5-year term and was secured by a repeat Avatar client who plans to invest additional equity into renovating and repositioning the limited-service hotel as one of the top destinations in Bodega Bay – a popular weekend getaway spot for Northern California residents.
According to T.R. Hazelrigg IV, President of Avatar Financial Group LLC, “The prime location of the Bodega Coast Inn & Suites on Bodega Harbor is undeniable; however, like many boutique properties it could benefit from some updates to truly stand out.” He also added that their borrower has previous experience successfully revamping another boutique hotel in San Diego and they are confident that this property will see similar success.
Sitting on 2.15 acres at 521 S Hwy 1., this six three-story building complex boasts 44 guestrooms with stunning views of the bay along with a main building housing amenities such as lobby area, dining space and meeting rooms. Built-in1986,the charming boutique hotel spans over31 ,212 square feetand features other attractive offerings including breakfast room,saltwater hot tubs,and fireplacesin select rooms.Additionally,it offersover2100square feetof event spacewith breathtaking views ofthe Pacific Ocean.
