WAC closes $250,000 commercial loan to a Rhode Island-based real estate investor

April 29, 2026: Worth Avenue Capital, LLC is pleased to announce that it just closed a $250,000 commercial loan to a Rhode Island-based real estate investor. The loan is secured by a blanket junior mortgage on two investment properties in Watch Hill, Rhode Island, and a junior mortgage on a residential property in Darien, Connecticut with an underlying LTV of approximately 60%. The loan proceeds will fund the renovation costs for the two investment properties in Watch Hill.

WAC’s short term bridge loan to this real estate investor aligns with its business model of originating loans on properties located in wealthy and tony communities where demand for real estate purchases by high net worth families is robust. Watch Hill, RI is one of the most sought after wealthy summer communities in the entire northeast while Darien, Connecticut is one of the wealthiest year round towns in the nation. Both communities have per capita incomes well into the six figures annually.

The sponsor is refinancing the two investment properties in Watch Hill with a long term conventional mortgage. The proceeds from that loan will pay off WAC’s short term bridge loan in the near term. WAC funded this transaction within two weeks without bureaucracy.