2018
CT-based Real Estate Investor Uses WAC Loan to Restructure Debt
Worth Avenue Capital
November 14, 2018
November 13th, 2018: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $265,000 Commercial Real Estate loan to a Connecticut based real estate investor. The loan proceeds are being used by the investor to restructure some debt and the loan is secured by a first mortgage on an investment property in New Haven, Connecticut with an underlying LTV of approximately 55%.
The loan was funded by a few of WAC’s investors and the borrower has the property in New Haven, Connecticut listed for sale and will pay off WAC’s bridge loan upon the sale of the property within the next several months. WAC was able to close this transaction within a few weeks.
Share
Recent Posts
What Do You Need to Qualify for a Private Loan?
One of the most common questions I hear from first-time borrowers is, “What do I need to qualify for a private loan?” Although...
Worth Avenue Capital Launches Worth Avenue Capital Development
This New Division Expands Worth Avenue Capital’s Capabilities to Residential Acquisition and Development Opportunities in Palm Beach County PALM BEACH, FL — [September...
Finding the Right Private Lender
Private credit has become an increasingly valuable financing option for real estate investors who need faster, more flexible financing that traditional lenders can’t...