Thorofare Capital has provided a $30,375,000 floating-rate senior loan for the refinance of Riverview at Roscoe, a 214,210-square-foot mixed-use property located in the Roscoe Village submarket of Chicago. The asset, 84.7% leased at closing, consists of three buildings offering a mix of medical, educational, creative office, daycare, and event production space.

Originally built as a single-tenant headquarters, the property has been repositioned into a multi-tenant campus with uses spanning healthcare, education, childcare, and professional services. The average remaining lease term is 8.4 years. The campus includes 433 surface parking stalls.

The floating-rate, interest-only loan includes allocations for both the main property and an adjacent land parcel. Proceeds were used to refinance existing debt, fund reserves for future leasing, and cover closing costs. The loan includes a “good news” facility to support lease-up and a partial release tied to the planned land sale. Upon repayment from the land proceeds, the loan balance will be reduced, further improving key loan metrics.

The sponsor is a joint venture between two experienced real estate groups with a strong track record in Chicago. Since acquiring the assets in 2020, they have completed a full repositioning, investing over $23 million to bring occupancy from 0% to 84%. One sponsor also manages leasing through an affiliated brokerage and has completed residential developments nearby.