27 Mar WAC Seals the Deal on $850,000 Commercial Loan for CT Based Real Estate Investor
March 27, 2014
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed an $850,000 commercial loan for a Connecticut based real estate investor. The loan proceeds were used to buy out this individual’s partners in a waterfront property that is located in one of the premier and toniest areas of the Connecticut Shoreline. The loan is secured by a first mortgage on that particular property and was funded by one of WAC’s private lenders.
WAC’s client had been involved in a protracted and contentious dispute with their partners on this property and was unsuccessful at obtaining conventional bank financing to raise the necessary capital to buy out the partners. WAC was able to quickly arrange the financing that enabled their client to successfully pay off their partners and acquire 100% ownership of a very valuable real estate asset.