2020
WAC Loans to Successful New England Real Estate Professional for Equity Investment
Worth Avenue Capital
February 19, 2020
February 19, 2020: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $250,000 commercial bridge loan to an LLC that is controlled by a very successful real estate professional in New England. The loan proceeds were used by the borrower as an equity investment in an existing business and the loan is secured by a first mortgage on a multi family investment property in Fairfield County, Connecticut with an underlying LTV of approximately 60%.
The borrower has substantial annual income and will be able to pay off WAC’s loan in full within one year. In addition, this LLC is a repeat borrower of WAC’s who has funded multiple loans for this entity.
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