2021
CT Entrepreneur Uses Loan from WAC to Purchase Mixed-Use Property Investment
Worth Avenue Capital
September 16, 2021
September 16, 2021: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $200,000 CRE loan for a Connecticut based entrepreneur who used the loan proceeds to purchase a small mixed use property in Naugatuck, Connecticut. The loan is secured by a first mortgage on the aforementioned property with an underlying LTV of 58% and the loan was funded by one of WAC’s private investors. The property is fully occupied/rented by a small restaurant on the first floor and has two separate residential tenants that occupy the second floor.
The borrower is an excellent candidate to obtain a conventional long term commercial loan within the next several months thus enabling the borrower to pay off WAC’s bridge loan in full.
Share
Recent Posts
Worth Avenue Capital Launches Worth Avenue Capital Development
This New Division Expands Worth Avenue Capital’s Capabilities to Residential Acquisition and Development Opportunities in Palm Beach County PALM BEACH, FL — [September...
Finding the Right Private Lender
Private credit has become an increasingly valuable financing option for real estate investors who need faster, more flexible financing that traditional lenders can’t...
Real Estate Exposure Without Property Management: The SDIRA Advantage
For years, real estate has been viewed as a valuable way to diversify a retirement portfolio beyond the stock market. However, many investors...