14 Nov CT-based Real Estate Investor Uses WAC Loan to Restructure Debt
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.