Thorofare Capital has provided a $56,500,000 floating-rate senior loan for the recapitalization of an eight-property industrial portfolio totaling more than 1.4 million square feet across seven states, including Florida, Pennsylvania, New York, New Jersey, Virginia, Michigan, and Ohio.

The portfolio is fully occupied with approximately 11 years of weighted average remaining lease term.

The properties were acquired and significantly improved between 2017 and 2024 through extensive redevelopment and tenant-specific buildouts. Improvements included infrastructure, mechanical, electrical, and security upgrades designed to support specialized industrial operations.

Loan proceeds were used to recapitalize the portfolio and support ongoing business plan objectives. The floating-rate, interest-only financing provides flexibility for future property sales or refinancing strategies.