Worth Avenue Capital closes $160,000 commercial loan

Middletown, CT Worth Avenue Capital, LLC (WAC) closed a $160,000 commercial loan for a real estate investor. The loan proceeds were used to purchase a residential property that will be rented out and held as a long term investment in the borrower’s portfolio. The borrower was able to access WAC’s private capital and purchase the property from an estate at a price that was well below its current market value.

The borrower formed a new LLC as its investment vehicle and the loan is secured by a first mortgage on the property that the investor just purchased. The loan was funded by one of WAC’s private investors.