Thorofare Capital has provided a $14,200,000 floating-rate senior loan for the discounted payoff and lease-up of Edge at Bridge, a four-story, Class A office and laboratory property totaling approximately 153,000 square feet in Creve Coeur, Missouri.

The property was originally developed in 2020 as a purpose-built life science facility and is located within a well-established research and innovation district anchored by academic, nonprofit, and corporate users. Following the departure of a former single-tenant occupant, the asset experienced a temporary disruption in occupancy, creating an opportunity to reset the capital structure at a materially lower basis and execute a multi-tenant leasing strategy.

The floating-rate, interest-only loan includes an initial term with extension options and provides flexibility to support the sponsor’s lease-up plan, which is focused on converting short-term occupants to long-term leases and stabilizing the property over time.

The sponsor is an experienced institutional real estate owner and operator with a track record in life science and specialized office assets.