19 Apr WAC Closes Loan for Middletown, CT Real Estate Investor
April 19, 2016
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $160,000 commercial loan for a real estate investor in Middletown, Connecticut. The loan proceeds were used to purchase a residential property in Middletown that will be rented out and held as a long term investment in the borrower’s portfolio. The borrower was able to access WAC’s private capital and purchase the property from an estate at a price that was well below its current market value.
The borrower formed a new LLC as its investment vehicle and the loan is secured by a first mortgage on the property that the investor just purchased. The loan was funded by one of WAC’s private investors.