News: Financial Digest
Posted: March 12, 2015
Worth Avenue Capital, LLC closes $400,000 commercial loan
Worth Avenue Capital, LLC (WAC) closed a $400,000 commercial loan for a CT-based manufacturing company. The loan proceeds were used by the company to pay off an existing commercial loan with an out of state regional bank as well as to provide the company with additional working capital. The loan is secured by a blanket first mortgage on two buildings that the principals of the company own through an LLC as well as a blanket UCC-1 filing on all of the company's business assets including accounts receivable; equipment; and inventory. The loan was funded by one of WAC's private lenders.
Despite the fact that the company had never been late with a loan payment on the loan that was originated by the regional bank, the bank called their loan because it had exited the CT marketplace and has been liquidating its existing loan portfolio in the state. The company tried to negotiate a longer-term extension on their loan with the bank but was unsuccessful. As a result it needed to refinance this loan to pay off the bank as quickly as possible and WAC was able to secure the financing and close the loan for the company in a prompt manner.
Tags:
Financial Digest
MORE FROM Financial Digest
Financial Digest
Example Story Title FD 5
Boston, MA The fall season always marks the return of IFMA Boston events, and this year is no different. Registration is now open for IFMA Boston’s FMForward Deep Dive 2024. The FMForward Deep Dive 2024 Conference will be held on November 19th at the Babson Executive Conference Center in Wellesley, Mass.
Quick Hits
Columns and Thought Leadership
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Another reason to stay debt free in a 1031 Delaware Statutory Trust exchange - by Dwight Kay
It seems like every day there is another reason showcasing the reason why more and more investors are choosing to stay debt-free when investing in Delaware Statutory Trust (DST) properties in a 1031 exchange.
What’s UP with that? - by Kyle Kadish
Investors have multiple tools to defer tax liabilities when selling investment properties. The best known is likely a 1031 exchange - which has been around in some form or fashion for over 100 years. Installment sales have existed as part of the code for more than 75 years. Newer legislation (2017) created Qualified Opportunity Zones (QOZs)
Cracking the code: Understanding the pros and cons of Delaware Statutory Trusts for 1031 Exchange real estate investors - by Dwight Kay
In the realm of real estate investing, the 1031 exchange Delaware Statutory Trust can provide savvy real estate investors a unique opportunity to achieve passive management, the potential for regular monthly distributions, and a way to enter one of the most tax efficient real estate investment strategies available today.