2017
WAC Closes Commercial Loan to Wholesale Distribution Company
Worth Avenue Capital
February 17, 2017
February 17, 2017
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $335,000 commercial loan to a wholesale distribution company in New Haven County, Connecticut. The loan proceeds were used by the company for working capital purposes and the loan is secured by a mortgage on an investment property in Nantucket, Massachusetts. The loan was funded by one of WAC’s private investors with an underlying LTV of 45%.
This company is a repeat client of WAC. The principals of the company have a liquidity event that will occur in the fall of 2017 that will allow them to make a substantial pay down of the principal balance of this bridge loan and the remainder of the outstanding balance will be paid off through the company’s general cash flow.
Share
Recent Posts
Fundamentals of Private Lending
Fresh out of college in 1983, I began my career as a credit analyst at a small commercial bank in New York City....
Fundamentals of Second Mortgage Lending
In the predominantly risk-averse world of private lending, Worth Avenue Capital (WAC) stands out as one of the few bridge lenders actively originating...
Private Lending Outlook 2026: What’s Ahead for Real Estate Financing
As 2025 winds down, many developers, business owners, and real estate investors are asking the same question: What will 2026 look like for...