In the news. Around the nation.
Callodine Group Announces Acquisition of Thorofare Capital
Callodine Group, an asset management firm focused on yield-oriented investment strategies, today announced that it has entered into a definitive agreement to acquire a majority stake in Thorofare Capital, Inc.
Thorofare to Open Second HQ in Miami
An executive with the Los Angeles-based firm called Miami a natural fit for the company’s expansion into the Southeast.
Thorofare Executes $327 Million in 2020 CRE Loan Originations Amidst Choppy Market Conditions
Thorofare Capital originated 19 debt investments totaling $327 million in capital commitments for 2020, reporting the busiest fourth quarter in the bridge lender’s 10-year history.
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 Lends $25M on Chapel Hill Life Sciences Development
Grubb Properties has nabbed a $25 million loan for the lease-up of a mixed-use life sciences asset across from the University of North Carolina– Chapel Hill campus. The loan was arranged by Cooper Horowitz.
Thorofare Lends $54M on Chicago-Area Data Center Portfolio
The two properties, at 711 North Edgewood Avenue and 341 Haynes Drive in Wood Dale, Ill., have a combined 193,395 square feet and a total capacity of 4,801 kilowatts. Both are operated by Element Critical, a wholly owned subsidiary of Safanad.
Thorofare Scales Growth With Three Hires
Thorofare’s national growth as a commercial real estate lender has taken a step forward with the addition of three new senior investment professionals in the Miami, Los Angeles and Charlotte markets, Commercial Observer can first report.
Thorofare Funds $14.5 Million Acquisition Loan for Industrial Warehouse Facility
Walker & Dulop arranged the financing for a joint venture between Greenmont Group and Tryperion Holdings to acquire Ella Grasso, a 450,000 SF industrial property located across from Bradley International Airport.
Thorofare Funds $52 Million Bridge Loan for Luxury Rentals in Atlanta
McKinley Homes obtained senior mortgage financing that will be used to refinance and lease 142 rentals at Seven88 West Midtown. Meridian Capital Group arranged the loan with debt fund operator Thorofare Capital.
Thorofare Funds $36 Million Acquisition Loan for Long Island Industrial
A joint venture between Thor Equities Group and Reinsurance Group of the Americans obtained $35.62 million in financing from debt fund manager Thorofare. Iron Hound arranged the purchase and renovation loan for the four-building, 189,000 SF industrial and distribution complex located on Carlls Path Road in Suffolk County, Long Island.
Thorofare Funds $27 Million Bridge Loan for New Jersey Industrial Facility
The financing provided by debt fund operator Thorofare is secured by Thor Equities’ 24 River Road industrial property in Bogota, N.J., which it acquired for $50 million last year from Skybrook Capital.
Thorofare Funds $41.46 Million Life Science Conversion Loan in Sorrento Mesa
King Street Properties, based in Boston, has made its first foray into the San Diego life science real estate market with the acquisition of a Sorrento Mesa office building that it plans to convert to lab space.
Thorofare Upsizes Loan Against Fort Collins, Colo., Apartments
Thorofare Capital has provided $44.69 million of financing against the recently completed Willow Street Residences, with 197 units in Fort Collins, Colo.
Thorofare Funds $34.5 Million for Le Gallerie in Greenwich Village
JLL arranged the loan from Los Angeles-based Thorofare Capital for KPG Funds to re-develop the seven-story property at 132 West 14th Street. KPG plans to transform the office and retail office property with a new structural expansion, featuring enlarged 15-foot ceiling heights on the top two floors along with a new façade designed by Marvel Architects.