13 Dec WAC Funds a CRE Development Project in Fairfield County CT
Posted at 05:06h in 2019, Recently Funded Loans
December 13, 2019: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $250,000 commercial loan to a Connecticut based CRE developer. The loan proceeds were used to invest in a CRE project in Fairfield County, Connecticut and the loan is secured by an equity stake in a shopping center in Connecticut. The loan was funded by one of WAC’s private investors.
The sponsor, who is a repeat borrower of WAC, is refinancing existing debt on one of his CRE assets and expects to pay off this bridge loan in full within 90 days or so.