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The Porter Apartments
$13,500,000 Acquisition & CapEx Financing
Tempe, AZ | June 2019
Thorofare Capital has funded a $13,500,000 intermediate-term whole loan to finance the acquisition of The Porter, a 1981-built, 165-unit multifamily community in Tempe, Arizona.
The Porter is located ½ mile from the Valley Metro light rail stop at Price-101 Freeway and Apache Boulevard, which provides interconnectivity through Downtown Tempe, Sky Harbor International Airport and Downtown Phoenix.
Proceeds from the subject financing will be used to acquire and continue the ongoing renovation of the property.
The Sponsor is a boutique investment adviser and private equity fund sponsor that specializes in the acquisition and development of complex, situational and undervalued multifamily, retail, office and industrial properties.