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Owners Developers & Managers
Posted: December 22, 2017
Worth Avenue Capital, LLC closes $70,000 loan
Stratford, CT Worth Avenue Capital, LLC (WAC) closed a $70,000 “fix and flip” loan for a small Connecticut-based real estate investor on an investment property. The loan is secured by a first mortgage on the property in Stratford and was funded by one of WAC’s private investors with an underlying LTV of 50%.
The borrower, who purchased this property through a foreclosure at a favorable price, will renovate the property and list it for sale within the next six months or so and will pay off WAC’s bridge loan upon the sale of the property.
WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients.
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