In the news. Around the nation.
Featured Press
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Thorofare Originates $54,000,000 In Bridge Loans Out Of Its Newest Debt Fund
Thorofare Capital, together with its subsidiaries, has originated $54 million in short-term first mortgage debt out of its recently launched Thorofare Asset Based Lending Fund IV, L.P., a closed-end debt fund vehicle with a target deployment capitalization of $450 million.
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Thorofare Set To Launch Fourth Fund
Thorofare Capital plans to start fundraising, for Thorofare Asset Based Lending Fund IV, L.P., in August. The fourth fund will be slightly larger [than the third fund], with a total capitalization of $300 million compared to the previous $250 million.
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Gundlach’s DoubleLine Teams With Thorofare On Bridge Loans
DoubleLine Capital, announced that it is teaming up with fellow downtown firm Thorofare Capital in a move that will give DoubleLine’s investors access to a new pool of short-term real estate loans. Under an exclusive arrangement, Thorofare will underwrite and originate middle-market commercial real estate loans – with terms of between two and five years – that it will then sell to DoubleLine.
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Thorofare Deploys $236 Million In Financing
Thorofare Capital has fully invested Thorofare Asset Based Lending Fund II, L.P., deploying $236.5 million for 51 commercial real estate bridge loans across 15 states.
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Value Vanguards: How Multifamily Bridge Lenders Are Uncovering Upside
Thorofare Capital is featured in Multi-Housing News’ article to describe how non-bank multifamily bridge lenders are finding innovative ways to stay competitive with banks.
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Thorofare Funds $13,000,000 for Sterling Organization’s Mag Mile Development
Mission Capital Advisors announced that its debt and equity finance group has arranged $13 million of non-recourse, floating-rate financing to recapitalize 110 E. Pearson Street.
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Why Private Debt Activity Is Growing
Private debt activity is growing. While banks, institutions, and the agencies are taking a bulk of the pie, private lenders are filling a void for small and mid-sized operators.
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Thorofare Lends $35.8M Against Dallas Office Complex
Thorofare Capital has provided $35.8 million of short-term financing against Heritage Square I & II, a 368,214-square-foot office complex in Dallas, allowing the property’s owner, Brookwood Financial Partners, to refinance existing debt and fund the property’s stabilization.
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Thorofare Funds Acquisition Loan for The St. Charles in Koreatown
The Brooklyn Cos., a downtown Los Angeles-based firm billed as a real estate firm serving family offices, has acquired a four-story, 54-unit, 45,000-square-foot mixed-use apartment building at 240 S. Western Ave. in Koreatown, for $11.3 million
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Thorofare Funds $16 Million for DC-Area Sheraton Hotel
The 16-story Sheraton Silver Spring Hotel, located 7 miles north of downtown D.C., features 229 keys. Built in 1971, the property underwent recent renovations.
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Thorofare Writes First Data Center Loan in USD $100mm Lending Push
Thorofare Capital has closed its first loan backed by a data center and is looking to spend up to USD $100mm more to increase its exposure to first-lien mortgages secured by that asset class.
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Thorofare Capital Funds $13M Short-term Bridge Loan for Senior Housing Property in Phoenix
The structured loan repays the borrower’s construction loan and funds reserves while the facility continues its stabilization.
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Thorofare Funds $13M Loan for Converted Seniors Housing Community in Phoenix
Thorofare Capital has funded a $13 million bridge loan to refinance and renovate Park Terrace, a 277-unit assisted living and independent living community in North Phoenix.
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Thorofare Funds $18,750,000 Loan for Acquisition and Renovation of Multifamily Complex in Connecticut
Thorofare Capital provided Brooklyn-based Up Realty with an $18.75 million bridge loan for the acquisition and renovation of the New Cambridge Apartments at 1175 Farmington Avenue in Bristol, Conn., Commercial Observer has learned.