28 May Commercial Loan to Buy Investment Property in Connecticut
May 28, 2013
Worth Avenue Capital Successfully Closes $260,000 Commercial Loan
Worth Avenue Capital, LLC is pleased to announce that it just closed a $260,000 commercial loan for a Connecticut based real estate developer. The loan proceeds were used to purchase investment property in Connecticut that abutts a land development project that the developer already owns. This purchase enables the developer to obtain greater access to his land development and catapults him into the status of being the largest land owner in that specific neighborhood.
The commercial loan was funded by one of WAC’s private lenders. Prior to engaging WAC’s services, the real estate developer attempted to obtain conventional bank financing on his own but was unsuccessful despite the fact that the property that he was purchasing is situated in a prime location and his personal financial condition is excellent. WAC was able to obtain a loan commitment for the borrower within just a few days.