Worth Avenue Capital, LLC continues to remain active in under served markets
Small businesses and real estate developers/investors are experiencing persistent and sustained challenges in obtaining
conventional bank financing. Banks continue to be hampered by an onerous regulatory environment that seems to grow more complex each year and prohibits banks from undertaking certain types of loans. As a result of this persistent regulation, banks are only able to lend money to a small percentage of the small business community who actually meet the strict loan underwriting criteria that banks are forced to impose on their loan applicants. As the demographics suggest, the majority of this market segment does not meet the necessary qualifications to obtain a bank loan and thus must seek alternative financing options to satisfy their working capital needs.
Since 2008 Worth Avenue Capital, LLC has closed numerous commercial loan transactions for both the small business and commercial real estate communities in the alternative lending space. WAC continues to remain active in arranging capital for under served markets.
WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients.
East Lyme, CT Newmark has arranged $115.6 million in financing on behalf of the sponsor to refinance The Cove at Gateway Commons and Sound at Gateway Commons. Newmark Capital Markets Strategies managing director Avi Kozlowski secured the financing through Freddie Mac.
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
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
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.
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.