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News:
Owners Developers & Managers
Posted: April 8, 2016
Worth Avenue Capital, LLC closes a $425,000 commercial loan to a CT-based construction company
Stamford, CT Worth Avenue Capital, LLC (WAC) closed a $425,000 commercial loan to a CT-based construction company. The loan proceeds were used by the borrower to restructure debt on two adjoining multi-family properties that it owns as investments. This transaction enabled the borrower to pay off its existing creditors at a very steep discount thus freeing up the equity in these properties and subsequently position these properties for a profitable sale. This bridge loan is secured by a blanket first mortgage on the two multi-family properties and was funded by one of WAC’s private investors.
WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients. WAC maintains offices in both Guilford and Westport, Connecticut.
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