27 May WAC Closes Loan for Private Investor
May 27, 2016
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $500,000 commercial loan for an LLC whose sole purpose is to make private investments. The loan is secured by a blanket mortgage on properties located in both Greenwich, Connecticut and Water Mill (Southampton), New York and the loan was funded by one of WAC’s private investors.
The borrower needed this short term financing as a bridge in anticipation of monetizing one or two different investments in their portfolio. As soon as either one of these investments monetizes, the borrower will pay off WAC’s bridge loan.