WAC Loans to Successful New England Real Estate Professional for Equity Investment

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.