WAC Provides Loan for Purchase of a Multi-Family Property in Fairfield County, CT
April 2, 2020: Worth Avenue Capital, LLC is pleased to announce that it successfully closed a $550,000 commercial loan to an LLC that specializes in purchasing and renovating multi family properties in Fairfield County, Connecticut. The loan proceeds were used to close on the purchase of a multi family property in Fairfield County, Connecticut as well as for the renovation costs of that property. The loan is secured by a blanket mortgage on six different properties in Fairfield County, Connecticut with an underlying LTV of 60%. The loan was funded by one of WAC’s private investors.
Upon completing the renovations to the property, the borrower plans on refinancing the debt on the property with a long term conventional mortgage to pay off WAC’s bridge loan. This real estate investor is a repeat borrower of WAC. Together, WAC and the borrower have worked on numerous real estate transactions. This loan closed within one week.
Recent Posts
Why More Individual Investors Are Choosing Boutique Private Lenders for Private Credit Investments
In recent years, there’s been a noticeable shift in how individual investors approach private credit investing. With the rise of alternative investments and...
Why Accredited Investors Are Turning to Private Credit and Why That Trend Is Accelerating
In the world of wealth management and high-net-worth investing, private credit is rapidly becoming a preferred asset class. Recent estimates suggest that approximately...
WAC funds $1,400,000 Bridge Loan in Greenwich, CT
May 13,2025: Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $1,400,000 bridge loan to a luxury home...