Avatar Financial Group LLC, a Seattle-based national hard money bridge lender for commercial real estate, provided a $4.8 million bridge loan for The Club at Treasure Island in Florida. The borrower, the single-asset entity of TIY & TC, LLC, used the funds to acquire the waterfront tennis and yacht club.

The fixed-rate, interest-only loan carries an 18-month term and represents 57% of the property’s expected value at stabilization. TIY & TC, LLC intends to grow the asset’s cash flow by increasing marina rents and leasing the clubhouse to a third-party operator. “We’re pleased to be part of the effort to keep the Club in operation as a venue of choice for residents and visitors alike,” said T.R. Hazelrigg IV, Avatar’s President & Co-Founder.

The site consists of 7.7 acres of upland area and 1.5 acres of submerged land that is owned by the State of Florida and leased to the borrower through September 2028. Located at 400 Treasure Island Causeway, the property includes wet slips, tennis courts, an Olympic-sized swimming pool, and a 39,318-square-foot clubhouse.