Avatar Bridge Loan Finances Acquisition of Historic Providence Hotel

Avatar Financial Group LLC has provided a $6.45-million bridge loan to finance the acquisition of Hotel Providence, an 80-room boutique hotel in Downtown Providence, RI. The two-year, first-lien loan was originated at 63% loan-to-value. The hotel has operated without a brand affiliation since its Wyndham flag was discontinued in early 2025, and the prior owner did...