Worth Avenue Capital, LLC has closed an $800,000 commercial loan for a real estate development company in Utah in which the loan proceeds were used to purchase a health care facility in Northwestern Connecticut. The loan was funded by one of WAC's private lenders.Tags:
The real estate development company is expanding its holdings in the northeast and needed to close on this transaction in Connecticut very quickly and did not have a sufficient amount of time to obtain conventional bank financing. As a result, this entity retained the services of WAC who was able to source their clientâ€ºs loan request through one of WAC's private funding sources who was able close the loan within just a few weeks from inception. Once again; WAC's access to private capital proved to be beneficial to its client and allowed them to take advantage of purchasing an under valued commercial real estate asset in a rapid manner.
WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients.