WAC Closed First Private Equity Real Estate Deal with Flagship Borrower

June 26, 2026: Worth Avenue Capital, LLC is pleased to announce that it just closed its first private equity real estate deal in an equity partnership with one of its flagship borrowers. WAC invested $950,000 for a 25% equity stake in the purchase of a Walgreens store in Newport News, Virginia. The General Partner in this transaction is a well known real estate developer in the Northeast who has a long standing relationship with Walgreens. The GP had the inside track on an undervalued Walgreens property that is one of the company’s highest grossing stores in Virginia and purchased it at a very favorable cap rate and a below market price. A local community bank in Virgina provided the purchase money mortgage at a favorable interest rate while WAC filled the gap with its equity investment to complete the purchase. WAC has a long standing relationship with the GP and they have partnered on numerous real estate transactions over the past few years.

WAC will continue to expand its business model with additional private equity real estate investments alongside this sponsor as it seeks to diversify and scale its private credit loan portfolio.