13 Jul WAC Closes Commercial Loan for Real Estate Investor and Practicing Eye Doctor
July 13, 2016
Worth Avenue Capital, LLC is pleased to announce that it just successfully closed a $427,500 commercial loan for a real estate investor who also practices medicine as an eye doctor. The loan proceeds were used to both restructure the debt on various real estate holdings as well as provide additional working capital for the Dr.’s medical practice. The loan was funded by a Connecticut-based community bank.
As part of this transaction, the borrower was able to take advantage of the continued low interest rate environment and thus reduce his interest expense on these particular real estate assets as well as obtain much-needed capital for his medical practice. This borrower is repeat client of WAC as the client utilized WAC’s services a few years ago to close on a commercial loan with another financial institution.