New Haven CT Real Estate Investor will use WAC Loan for Renovation of Latest Investment Property

April 15, 2021: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $100,000 commercial loan for a small real estate development/investment company in New Haven, Connecticut. The loan proceeds will be used to renovate one of the company’s real estate investments in New Haven, Connecticut and the loan was funded by one of WAC’s private investors. The loan is secured by a blanket second mortgage on two separate investment properties in New Haven as well as a blanket mortgage on a third investment property in Hamden, Connecticut. The LTV on this transaction is approximately 50%.

The company is a repeat borrower of WAC’s. This short term bridge loan will be paid off in full by the borrower within one year or less from either cash flow or from the refinancing of one or more of the company’s investment properties.