In the news. Around the nation.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.