Multinational Steel Company Uses WAC Loan Towards Construction of New Manufacturing Facility

November 24,2025: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $3,000,000 commercial loan to a multinational steel manufacturing and distribution company. The Sponsor will use the loan proceeds as part of an equity investment towards the construction of a new steel manufacturing facility in the southern region of the U.S. that will manufacture specialty steel rings to assist with the fostering of the nation’s nuclear energy renaissance.

This new bridge loan origination is fully secured by a junior mortgage on a luxury 17,000 square foot residence in one of the most exclusive neighborhoods in the countryside of Greenwich, Connecticut with an underlying LTV of approximately 50%. In connection with the equity investment for the new steel manufacturing facility, the Sponsor expects to realize a substantial liquidity event in the near term that he will use to pay off WAC’s short term bridge loan in full. As a secondary exit strategy, the Sponsor will sell the property in Greenwich, Connecticut to pay off the bridge loan in conjunction with relocating his business and family.

As evidenced by this transaction, WAC continues to fill a void in the marketplace by originating commercial loans that are secured by junior mortgages on luxury properties in wealthy communities to successful operating companies and real estate developers who have bonafide and clear cut exit strategies.