New Haven, CT Worth Avenue Capital, LLC (WAC) closed a $265,000 commercial real estate loan to a Connecticut based real estate investor. The loan proceeds are being used by the investor to restructure some debt and the loan is secured by a first mortgage on an investment property, with an underlying LTV of 55%.
The loan was funded by a few of WAC’s investors and the borrower has the property in New Haven, listed for sale and will pay off WAC’s bridge loan upon the sale of the property within the next several months. WAC was able to close this transaction within a few weeks.
WAC specializes in arranging debt financing for both small businesses and real estate developers/investors and also handles bank workouts for those same clients. You can learn more about WAC by taking a look at the website and Youtube video or by contacting WAC’s principal, Michael M. Ciaburri at firstname.lastname@example.org or (203)605-4082. WAC maintains offices in both Guilford and Greenwich, Connecticut as well as Palm Beach, Florida. You can now follow @worthavecapital on Twitter for the latest lending news.