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$25,200,000 Refinance & TI/LC Financing
Thousand Oaks, CA | August 2019
Thorofare Capital has funded a $25,200,000 short-term bridge loan to refinance Gate One, a three-story, 131,750 SF Class A office building located in Thousand Oaks, California. The property was 77% leased at the time of loan closing.
Gate One is primarily surrounded by office and retail buildings. It benefits from its proximity to The Promenade at Westlake and Westlake Plaza, which include national tenants such as Starbucks, Glesons, Nike, Bed Bath & Beyond, and several other retail/restaurant outlets. The property is located adjacent to and has direct visibility from Ventura Freeway (Route 101).
The 18-month, non-recourse, fixed rate loan includes a multi-million-dollar future funding facility to cover costs associated with accretive lease-up.