 (1).png)
News:
Owners Developers & Managers
Posted: November 17, 2023
WAC arranges $900,000 loan for proposed 184-unit apartment project
Uncasville, CT Worth Avenue Capital (WAC) closed a $900,000 commercial loan to a developer who is purchasing 10+ acres and is planning on building 184 apartment units on the site. The loan is secured by a first mortgage on the property with an underlying LTV of 55%.
The developer is a multiple repeat borrower of WAC who has developed and sold numerous projects throughout the state with the assistance of WAC’s short-term capital and financing as a debt partner. Upon receiving all of the expected final approvals from the municipality, the borrower expects to obtain conventional construction financing that will be used to pay off WAC’s bridge loan in full as well as construct the proposed apartment units.
As a result of the continued demand for residential housing, the construction of new apartment complexes are in vogue. The demographics for the construction of a new apartment complex in town are ideal and the borrower expects that the units will sell quickly upon the completion of the construction due to the lack of inventory in Southeastern Conn.
MORE FROM Owners Developers & Managers
Windsor approves redevelopment of 500 Day Hill Rd. for mixed-use residential community
Windsor, CT The town has granted approvals for the redevelopment of 500 Day Hill Rd., clearing the way for a mixed-use residential community that will convert a former office campus into a housing development totaling approximately 300 residential units
.png)
Quick Hits
 (1).png)
Columns and Thought Leadership
Revitalized Town Centers: Retail??? - by Carol Todreas
It is now widely accepted that customers want to shop in person at physical stores. Brands know that they do better business in a physical store than just on line so they want to open stores. Demand for retail space by digital merchants, local entrepreneurs, and newly developed national chains
Florida ruling raises bar for condo terminations and buyouts - by Michael Karsch
On October 14, 2025, in a landmark decision with significant implications for the Florida real estate market, the Supreme Court of Florida formally denied Two Roads Development’s (TRD Biscayne LLC) petition for review in its long-running case against unit owners of Biscayne 21,
IREM president’s message: Our new reality - Staying ahead of supply chain delays - by Yoany Vargas
Supply chain delays are slowing construction, ratcheting up operating costs, and extending turnover timelines across Greater Boston, directly reducing revenue and increasing the workload for multifamily and
Retail infill strategy to activate Pawtucket’s Conant Thread District - by Gaetan Kashala
Until recently, the Conant Thread District consisted of approximately 150 acres of underutilized industrial land spanning Pawtucket and Central Falls. Today, the area is one of the most significant