2019
WAC Closes Commercial Loan for Real Estate Developer in Fairfield County, CT
Worth Avenue Capital
January 11, 2019
January 11, 2019: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $250,000 commercial loan to a builder/real estate developer in Fairfield County, Connecticut. The loan proceeds are being used to complete the construction of a duplex that is located in Norwalk, Connecticut. The loan is secured by a blanket mortgage on three separate pieces of real estate that are located in Norwalk, Wilton and Uncasville, Connecticut and the loan was funded by one of WAC’s private investors.
The borrower is a repeat customer of WAC who expects to complete the construction of the duplex within the next few months and list the property for sale. Upon the sale of the property, the borrower will pay off WAC’s bridge loan in full.
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