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.
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.
Thorofare Real Estate Debt Fund Raises $164M
Thorofare Capital has garnered $163.68 million in capital commitments for its Thorofare Asset Based Lending Fund V, a filing with the US Securities and Exchange Commission showed.
Investors Pour into Small Markets, Drive Price Momentum
For lenders like Los Angeles-based Thorofare Capital, funding deals in Denver has become a primary strategy, said Felix Gutnikov, a principal with the firm. In September, Thorofare provided $30.3 million in short-term bridge financing to Mass Equities to acquire industrial buildings on 7.8 acres in Denver’s booming River North Art District (RiNo) neighborhood near downtown.
Thorofare Capital Gets Added Commitment from DoubleLine
Thorofare funds loans of $3 million to $100 million for both its funds and the DoubleLine programs against properties in every major sector across the country, in order to facilitate discounted pay-offs of existing mortgages and the purchase of nonperforming loans and portfolios.
Thorofare Capital Funds a $30M Loan for Mass Equities
Thorofare Capital has funded a $30 million short-term bridge loan for the acquisition of a 157,210-square-foot industrial property in Denver. The buyer is planning a $200 million mixed-use development on the 7.8-acre site, located at Denver’s River North Arts District.
Thorofare Capital Lends $30.3M Against Denver Warehouses
Thorofare Capital has recently provided $30.3 million of short-term financing for the acquisition of a 157,210 square foot, two building industrial facility located in the most desirable and up-and-coming location within the River North Arts District (RiNo) of Denver, CO.
Thorofare Funds $16,280,000 Acquisition Loan for Charleston, SC Office Property
Albemarle Point Center includes a class “A” 73,356-sf office building on Croghan Spur and an adjacent 11,000-sf flex building on Albemarle Road.
LA 500 Money Players: Marc Rapaport, Principal | Thorofare Capital
Marc Rapaport is a private investor with a wide range of operational experience. Rapaport began his investment banking career at Drexel Burnham Lambert in 1983, after practicing law in Los Angeles. He co-founded the capital division of Jefferies & Co. in 1990 and served as its executive vice president. He was also a director of Jefferies and a member of the firm’s executive committee until 1994. From 1995 until 1998, Rapaport was chairman of the Los Angeles Galaxy and lead investor in the team. Rapaport had been a founder of Major League Soccer. He is the chairman of the Cedars Sinai Health System board.
Alma Maters: Bachelor’s, University of Pennsylvania; JD, Harvard Law School.
Thorofare Funds $9,545,000 Acquisition Loan for Corporetum Office Campus VI
HFF worked on behalf of the buyer to secure the three-year bridge loan through Thorofare Capital that includes a facility towards capital improvements and leasing costs for the two-building office property, totaling 168,698-square-feet, in Lisle, Illinois.
Alternative Lenders Move Into The Mainstream
Trepp® features Thorofare Capital in its Trepp Talk Top Story of the Week about how alternative, or non-bank lenders, a staple in the commercial real estate industry for decades, have come into their own.