In the news. Around the nation.
LIVWRK Acquires 2.45-Acre MXU Assemblage in Miami’s Wynwood Arts District
Los Angeles-based Thorofare Capital provided a $28.44 million mortgage that covered all of the properties in the deal.
Thorofare to Open New Office in Miami
Downtown Los Angeles-based commercial real estate lender Thorofare Capital, Inc. is expanding its footprint in the Southeast, opening a second corporate headquarters in Miami.
Thorofare Expanding Miami Office
Brendan Miller, chief investment officer at Thorofare Capital, has relocated to Miami to oversee the expansion of a second East Coast outpost for the Los Angeles lender.
Thorofare Funds $44M Core+ Loan for Multifamily Acquisition
CGI+ Strategies has sold Astoria at Celebration, a 306-unit luxury community in Celebration, Fla., to Versity Investments. Thorofare Capital provided $44 million in permanent acquisition financing to facilitate the transaction. The resort-style property is located at 1688 Celebration Blvd., adjacent to Celebration, a 4,900-acre master-planned community constructed in 1996 by the Walt Disney Co.
Thorofare Funds $14.25M Bridge Loan for Flagler City Center
Thorofare Capital has provided a $14.25 million bridge loan for a rare, 2.5-acre assemblage at a prime location in Downtown Miami. The site, at 251 Flagler Street, comes with massive redevelopment potential, opening up the path for a buyer to potentially construct a 2.6 million-square-foot project.
Thorofare Funds $31M Redevelopment Loan for Newark Multifamily Tower
Thorofare has provided a $30.8 million redevelopment loan to The Chetrit Group for 440 Elizabeth Avenue, a 25-story multifamily tower adjacent to Newark International Airport in Newark, N.J.. The property, formerly known as Carmel Towers, towers over the Weequahic neighborhood in Newark’s South Ward, built around the 311-acre Weequahic Park — the largest park in Essex County.
Thorofare Funds $18M Acquisition Loan for San Diego’s Iconic Spreckels Theater Building
The historic Spreckels Theater Building – a San Diego landmark for more than a century – has been sold for $26.5 million. The 217,000 SF property, which sits at the edge of the Gaslamp Quarter, was acquired by a joint venture of Taconic Capital Advisors and Triangle Capital Group.
Thorofare Provides $13M Acquisition Loan for MOB in West Orange
Thorofare Capital has provided a $13 million bridge loan for the acquisition, re-development and lease-up of a 70,000 SF medical office building in the Northern New Jersey community of West Orange.
Thorofare Adds Construction Lending
Bridge lender Thorofare Capital has expanded its loan program to include ground-up construction. The Los Angeles firm has committed $250 million from an existing discretionary vehicle to the endeavor, with plans to do more.
Thorofare Lends $22M to Refi Orlando Hotel Near Disney World
L.A.-based lender Thorofare Capital has provided just over $21.5 million to AD1 Global Hospitality to refinance Crowne Plaza Orlando-Lake Buena Vista near the Walt Disney World Resort, Commercial Observer has learned.