WAC Provides $1M CRE Loan For West Hartford Development

March 12, 2025: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $1,000,000 CRE loan to a very substantial real estate developer who will use the loan proceeds towards the development of a property in West Hartford, Connecticut. The loan is secured by a second mortgage on the property with very low leverage with an underlying LTV of approximately 10%. In addition, WAC already has a first mortgage on this property for another loan that it funded for this borrower. The market value of this property in West Hartford, Connecticut has increased in value substantially over the last year or so as a result of the approvals that the developer obtained from the town of West Hartford.

The sponsor, who has successfully developed numerous real estate projects up and down the entire eastern seaboard of the U.S., is now a multiple repeat borrower of WAC. For this particular real estate development project, the town of West Hartford has approved the development of four five story buildings with a total of 322 apartment buildings including 115 single bedroom units and 207 two bedroom units while 26 units will be designated for affordable housing that will be constructed on the 24 acre parcel. The borrower will eventually refinance the debt on the property with a conventional lender in the near term to pay off WAC’s short term bridge loan.

 

Worth Avenue Capital is a leading provider of creative financing solutions for commercial real estate investors, delivering tailored loan structures that support acquisitions, developments, and refinancing strategies. With extensive experience in structuring CRE loans, WAC enables clients to secure funding quickly—offering flexible alternatives to conventional financing. Since its inception, WAC has successfully closed hundreds of transactions, helping real estate developers and investors unlock new opportunities, optimize their capital stacks, and drive long-term value.

To learn more about WAC’s CRE loan solutions, visit our website, explore our YouTube channel, or contact WAC’s principal, Michael M. Ciaburri, at worthavenuecapital@gmail.com or (203) 605-4082. WAC maintains offices in Guilford and Greenwich, Connecticut, as well as Palm Beach, Florida. Follow @worthavecapital on X for the latest lending news.