2019
Real Estate Developer Benefits from Fix and Flip Loan from WAC
Worth Avenue Capital
January 24, 2019
January 24, 2019: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a “fix and flip” commercial loan for $120,000 to a real estate developer/investor. The loan proceeds were used by the borrower to purchase an investment property in Torrington, Connecticut. The borrower will renovate the aforementioned property and will list it for sale upon the completion of the renovations.
The loan is secured by a first mortgage on the property in Torrington, Connecticut with an underlying LTV of approximately 50% and the loan was funded by one of WAC’s private investors within one week.The borrower will pay off WAC’s bridge loan in full upon the sale of the property.
Share
Recent Posts
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...
Fundamentals of Private Lending
Fresh out of college in 1983, I began my career as a credit analyst at a small commercial bank in New York City....
Fundamentals of Second Mortgage Lending
In the predominantly risk-averse world of private lending, Worth Avenue Capital (WAC) stands out as one of the few bridge lenders actively originating...