March 6, 2026: Worth Avenue Capital, LLC is pleased to announce that we successfully closed a $600,000 follow on debt offering for a U.S based steel company for the purpose of purchasing land in Hertford, North Carolina. This land purchase represents an add-on acquisition as part of the company’s plan to build a new steel foundry in the aforementioned town, an initiative that the U.S. government has both sanctioned and promoted.

This short-term bridge loan is fully secured by a junior mortgage on a $21 million personal residence in Greenwich, Connecticut, along with a first mortgage on the recently purchased land in North Carolina, with an underlying LTV of approximately 55%. The steel company is discussing a potential equity stake with a NYSE-traded company that has expressed interest in the project.

WAC’s bridge loan will be paid off in full from either the closing of the private equity investment or the sale of the property located in Greenwich, Connecticut.

Worth Avenue Capital specializes in structuring short-term bridge loans that provide real estate investors and business owners with the liquidity they need to seize opportunities, restructure debt, or meet working capital demands. With a deep understanding of alternative financing, WAC delivers tailored lending solutions that traditional banks often cannot offer—allowing clients to bridge financial gaps with speed and flexibility.

To learn more about WAC’s bridge loan solutions contact WAC’s principal, Michael M. Ciaburri, at worthavenuecapital@gmail.com or (203) 605-4082. WAC maintains offices in Guilford and Greenwich, Connecticut, as well as Palm Beach, Florida.