In the news. Around the nation.
Thorofare Originates $54,000,000 In Bridge Loans Out Of Its Newest Debt Fund
Thorofare Capital, together with its subsidiaries, has originated $54 million in short-term first mortgage debt out of its recently launched Thorofare Asset Based Lending Fund IV, L.P., a closed-end debt fund vehicle with a target deployment capitalization of $450 million.
Thorofare Set To Launch Fourth Fund
Thorofare Capital plans to start fundraising, for Thorofare Asset Based Lending Fund IV, L.P., in August. The fourth fund will be slightly larger [than the third fund], with a total capitalization of $300 million compared to the previous $250 million.
Gundlach’s DoubleLine Teams With Thorofare On Bridge Loans
DoubleLine Capital, announced that it is teaming up with fellow downtown firm Thorofare Capital in a move that will give DoubleLine’s investors access to a new pool of short-term real estate loans. Under an exclusive arrangement, Thorofare will underwrite and originate middle-market commercial real estate loans – with terms of between two and five years – that it will then sell to DoubleLine.
Thorofare Deploys $236 Million In Financing
Thorofare Capital has fully invested Thorofare Asset Based Lending Fund II, L.P., deploying $236.5 million for 51 commercial real estate bridge loans across 15 states.
Thorofare Capital Funds $19,000,000 Bridge Loan for Assisted Living Community in Phoenix
Thorofare Capital has provided a $19,000,000 fixed-rate bridge loan to an affiliate of ArciTerra Cos. LLC. The funds will be used to refinance debt on MorningStar at Arcadia, a 135-bed assisted living community in Phoenix.
Thorofare Funds $40,000,000 for Hartford Office Tower Acquisition
Thorofare Capital has provided an affiliate of Shelbourne Global Solutions with a $40,000,000 floating-rate commercial mortgage for the acquisition of Metro Center, a 293,640 s/f Class A office building, located in Hartford, CT.
Dealmaker: Thorofare Capital Lends $33,000,000 in Colorado, California
MBA Newslink highlights two recent closed financing transactions by Thorofare Capital, including value-add office building in Denver and a Fortune 100-leased industrial/distribution facility in National City.
Thorofare Lends $40,000,000 Against Hartford’s Metro Center
Thorofare Capital has provided $40,000,000 of financing against Metro Center, a 293,640-square-foot office building in Hartford, Conn., facilitating its purchase by Shelbourne Global Solutions for $49,000,000, or $167/sf.
Finance & Investment: Ready to Refinance?
Private lenders step in to fill the CMBS gap.
Thorofare Enters Denver with $19,800,000 Acquisition Loan
Thorofare Capital of Los Angeles entered the Denver market with $19,800,000 million in first-mortgage debt for the acquisition, syndication and lease-up of the 134,643-square-foot Parkway Office Centre.
CO’s Top 25 Debt Brokers & Lenders Under 35
Kevin Miller, CEO, Principal and Founder at Thorofare Capital, is featured in Commercial Observer’s 2016 Top 25 Debt Brokers and Lenders Under 35.
Thorofare Funds $14,900,000 for Amberwood Apartments
Los Angeles-based portfolio lender Thorofare Capital has provided an affiliate of BRAD Management with a $14,900,000 floating-rate commercial mortgage for the acquisition and renovation of two multifamily buildings in South Pasadena, California.
Thorofare Provides $135,000,000 in Short-Term Mortgages
Thorofare Capital has provided nearly $135,000,000 in short-term first mortgage debt in the past 60 days, including a $38,500,000 loan to revamp a creative commercial complex in Seattle, Washington.
Who The CMBS Collapse Helped
Thorofare Capital has funded nine short-term first mortgage debt totaling $120,000,000 in loans in the last 60 days. All of the loans were allocated to properties in various geographic regions, including Washington State, California, Oregon, South Carolina and New Jersey, and across product types.