25 Nov Commercial Loan to Purchase Health Care Facility in CT
WAC Closes $800,000 Commercial Loan, Proceeds Used to Purchase Health Care Facility in CT
Worth Avenue Capital, LLC successfully closed an $800,000 commercial loan for a real estate development company in Utah in which the loan proceeds were used to purchase a health care facility in Northwestern Connecticut. The loan was funded by one of WAC’s private lenders.
The real estate development company is expanding its holdings in the northeast and needed to close on this transaction in Connecticut very quickly and did not have a sufficient amount of time to obtain conventional bank financing. As a result, this entity retained the services of WAC who was able to source their client’s loan request through one of WAC’s private funding sources who was able close the loan within just a few weeks from inception. Once again; WAC’s access to private capital proved to be beneficial to its client and allowed them to take advantage of purchasing an under valued commercial real estate asset in a rapid manner.