In the news. Around the nation.
Thorofare Writes First Data Center Loan in USD $100mm Lending Push
Thorofare Capital has closed its first loan backed by a data center and is looking to spend up to USD $100mm more to increase its exposure to first-lien mortgages secured by that asset class.
Thorofare Funds $13M Short-term Bridge Loan for Senior Housing Property in Phoenix
The structured loan repays the borrower’s construction loan and funds reserves while the facility continues its stabilization.
Thorofare Funds $13M Loan for Converted Seniors Housing Community in Phoenix
Thorofare Capital has funded a $13 million bridge loan to refinance and renovate Park Terrace, a 277-unit assisted living and independent living community in North Phoenix.
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.
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.