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 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.
Thorofare Funds $28 Million Construction Loan for NuLu Yard Apartments
The 189-unit class A multifamily property is being developed by Louisville developer Weyland Ventures in the city’s East Market area, a trendy neighborhood also referred to as the NuLu or New Louisville district.
Thorofare Funds $29 Million Construction Loan for 3PL Logistics Development Forward-Sale
Cushman & Wakefield arranged a $28.5 million loan from Thorofare Capital for Treetop Companies’ development of 500 Halls Mill Road, a Class A industrial building in Freehold, N.J.
Thorofare Funds $585 Million Through Q2 2022
The Los Angeles-based Callodine Group affiliate manager targets recession-resilient sectors including logistics and storage, but is also not afraid of steering away from the herd.
Thorofare Lends $48 Million on Houston Luxury Apartments
Walker & Dunlop arranged the fixed rate, long-term loan, which executed through Thorofare’s Core+ program to finance the acquisition of The Hayworth Tanglewood for Versity Invest, LLC.
Thorofare Funds $20 Million Loan for 944-Unit Self-Storage Facility in Scottsdale
The floating rate, short term $20 million construction-completion loan was obtained by an affiliate of Phoenix-based 1784 Capital Holdings. Life Storage (NYSE: LSI) will manage the day-to-day operations upon the project’s impending completion.
Thorofare Funds $19.5 Million International Plaza Office/R&D Building in Salt Lake City
JLL worked on behalf of a joint venture, between George Urban Properties and Long Wharf Capital, to secure the three-year bridge loan from debt fund operator Thorofare Capital.
Thorofare Funds $40M Acquisition Loan for Anaheim Portofino Inn & Suites
Dynamic City Capital has completed its purchase of the 190-room Portofino Inn & Suites across from Disneyland Park in Anaheim, Calif. Dynamic City turned to Thorofare Capital Inc. for $40M of senior financing and $12.5M of mezzanine financing provided by Taconic Capital Advisors.
Thorofare Funds $21.5M for Bay Area Memory Care Portfolio
The portfolio includes Crescent Oaks in Sunnyvale and Silver Oaks in Menlo Park. JLL Capital Markets worked on behalf of the borrower, Calson Management, to secure an 18-month, fixed-rate loan from Thorofare Capital.
Thorofare Ramps Up Lending Activity
Bridge lender Thorofare Capital is on track to originate over $1 billion of commercial real estate loans this year after wrapping up its two busiest quarters ever.