In the news. Around the nation.
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 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.
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 Featured in Globe Street on Interest Rate Trends in Commercial Real Estate
Interest rate increases at the end of 2018 stalled the capital markets, but with interest rates remaining low this year, borrower demand has rebounded.
Denis Barreto, Jr. Joins Thorofare Capital as Director of Credit
He brings more than 12 years of experience in underwriting commercial real estate investments, including equity, debt and structured finance transactions.
Thorofare Provides $53,500,000 for CT Multifamily Portfolio
The financing is secured by Bereley at Waypointe and Quincy Lofts, two Class-A apartment communities developed in 2016 by the sponsor, a joint venture between affiliates of Alex. Brown Realty, Inc. and Belpointe Companies.
Thorofare Funds $11,400,000 Acquisition Loan for Multifamily Property in Phoenix
El Cortez Apartments is a value-add project that features 158 apartments and was 67 percent occupied at closing.
Thorofare Adds Daniel Pavlinik as Director of Pacific Northwest Originations
Daniel Pavlinik has joined Thorofare Capital as Director of Origination for the Los Angeles company’s Pacific Northwest region.
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 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.