Worth Avenue Capital closes $500,000 commercial loan

Greenwich, CT Worth Avenue Capital, LLC closed a $500,000 commercial loan for an LLC whose sole purpose is to make private investments. The loan is secured by a blanket mortgage on properties located in Greenwich and Water Mill (Southampton), N.Y. and the loan was funded by one of WAC’s private investors.

The borrower needed this short term financing as a bridge in anticipation of monetizing one or two different investments in their portfolio. As soon as either one of these investments monetizes, the borrower will pay off WAC’s bridge loan.