News: Front Section
Posted: November 26, 2021
Worth Avenue Capital closes $210,000 CRE loan
North Haven, CT Worth Avenue Capital, LLC closed a $210,000 CRE loan to a small business. The loan proceeds were used to consolidate the company’s business debt and the loan is secured by a first mortgage on an owner-occupied commercial building in the city with an underlying LTV of 64%. The loan was funded by one of WAC’s private investors.
The borrower has listed the property for sale with a local real estate broker who is seeking prospective buyers for the property. WAC’s bridge loan will be paid off in full upon the sale of the property.
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Quick Hits
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