2018
WAC Closes CRE Loan to Prominent Real Estate Developer in CT
Worth Avenue Capital
May 4, 2018
May 4, 2018: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $400,000 CRE loan to a prominent real estate developer in Connecticut. The loan proceeds will be used by the borrower for working capital purposes on one of his real estate development projects in Connecticut. The loan is secured by a second mortgage on a piece of commercial real estate in Fairfield County, Connecticut whose tenants include Longhorn Steakhouse, Chili’s, and TD Bank and the loan was funded by one of WAC’s private investors.
The borrower has the aforementioned property in Fairfield County, Connecticut listed for sale with another prominent CRE broker and will pay off WAC’s bridge loan upon the sale of that property. WAC was able to close this loan within six days of the actual loan request.
Share
Recent Posts
Using Second Mortgages as Additional Collateral for Construction Loans
Over the past several months, WAC has provided financing for multiple construction projects where second mortgages were a critical part of the overall...
Strategic Financing Leads to Luxury Home Success in Greenwich
Worth Avenue Capital congratulates our borrower, Dream Home Custom Builders (DHCB), on the successful sale of 273 Riversville Road in Greenwich, Connecticut. This...
Changing Investment Preferences for Baby Boomers: Why Private Credit is on the Rise
The investment landscape for Baby Boomers has undergone a significant shift in recent years. Faced with ongoing stock market volatility driven by the...