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.