 (1).gif)
News:
Finance
Posted: May 11, 2018
Worth Avenue Capital closes line of credit for construction company
Worth Avenue Capital
Fairfield, CT Worth Avenue Capital, LLC closed a $200,000 line of credit for a small construction company that is based in Fairfield County. The loan proceeds will be used by the borrower as working capital for several construction projects that they are currently undertaking. The loan is secured by a blanket mortgage (both firsts and seconds) on multiple properties that are located in Wilton, Norwalk, and Uncasville, and the loan was funded by one of WAC’s private investors.
The company is a repeat borrower of WAC. Most of their construction projects will be completed within the next six months or so at which time the borrower will be able to sell one or more of his properties thus enabling the company to pay off WAC’s bridge loan.
WAC specializes in arranging debt financing.
Tags:
Finance
MORE FROM Finance
C-Lounge Capital provides $18m equity investment for $40m acquisition of Fountains of Boca Raton by Interface Properties
Boca Raton, FL C-Lounge Capital provides $18m equity investment for $40m acquisition of Fountains of Boca Raton by Interface Properties. C-Lounge Capital is a relationship-driven family office investment platform backed by more than 50 years of commercial real estate experience.
 (1).gif)
Columns and Thought Leadership
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
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
