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Worth Avenue Capital Closes $750K Bank Workout For Conn. Real Estate Developer

August 26, 2013 | Reprints | Unlock Link | Print

Worth Avenue Capital LLC (WAC) has closed a $750,000 bank workout for a Connecticut-based real estate developer. The name of the client was not disclosed.

WAC negotiated an extension of an existing forbearance agreement for its client as well as a restructuring and pay down of the outstanding commercial loan. The client was a U.S. subsidiary of a European-based bank holding company.