In the news. Around the nation.
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.
Dealmaker: Thorofare Capital Lends $21,000,000 on Hotel, Multifamily
MBA Newslink covers The Claremont Hotel and Villa Riviera Apartments, two recently closed financing transactions originated by Thorofare through its multi-strategy direct lending platform.
Thorofare Capital Funds $19,000,000 Bridge Loan for Assisted Living Community in Phoenix
Thorofare Capital has provided a $19,000,000 fixed-rate bridge loan to an affiliate of ArciTerra Cos. LLC. The funds will be used to refinance debt on MorningStar at Arcadia, a 135-bed assisted living community in Phoenix.