WAC Funds Real Estate Acquisition for CT Entrepreneur

February 13, 2025: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $1,400,000 commercial loan to a Connecticut based entrepreneur for the purpose of purchasing a luxury property on the Connecticut shoreline. WAC structured the loan in a bespoke manner and tailored the loan to meet the specific needs of the borrower. The company is a multiple repeat borrower of WAC.

The loan is secured by a blanket first mortgage on the property that was purchased by the borrower as well as blanket junior mortgages on another luxury property on the Connecticut shoreline as well as a direct waterfront condominium in Naples, Florida. The underlying LTV for this transaction is approximately 60%.

The borrower is currently in the process of actively selling several properties in their real estate portfolio and expects to pay off WAC’s bridge loan and complete the exit strategy in the near term from the sale of one or more of these properties.

WAC is one of the few private lenders who offer loan products that are tailored and structured to meet a specific need for a borrower to complete a transaction. WAC utilizes a unique formula that leverages the existing equity in properties that are already encumbered through the use of both junior and blanket mortgages. In order to qualify for this unique and creative form of financing, the borrower must demonstrate that they have an aggressive exit strategy in place to pay off WAC’s bridge loan in full by actively selling real estate properties with realistic outcomes to create liquidity events. WAC maintains a strict loan underwriting criteria with a maximum LTV with each transaction.

 

---

Worth Avenue Capital specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients. You can learn more about WAC by visiting our website, checking out our Youtube videos or by contacting WAC’s principal, Michael M. Ciaburri at worthavenuecapital@gmail.com or (203) 605-4082. WAC maintains offices in both Guilford and Greenwich, Connecticut as well as Palm Beach, Florida. Be sure to follow @worthavecapital on X for the latest lending news.