In the news. Around the nation.

Thorofare Capital has funded a $26 million loan to refinance two R&D and office buildings in El Segundo. The short-term bridge loan features a 50 percent loan-to-cost ratio, pre-development financing and a two-year base loan term with extension options. Felix Gutnikov, David Perlman, Andrew Kim and Jeff Scappini of Thorofare closed the loan for the undisclosed borrower.

The properties include 415 North Camden Dr., a 17,936-square-foot, two-story mixed-use retail, medical and office use building in the renowned Beverly Hills Golden Triangle. The second property includes a 10,884-square-foot medical office building, located at 152-160 South Lasky Dr., adjacent to the Lasky Hotel development across the street from the Peninsula Hotel.

Interest rate increases at the end of 2018 stalled the capital markets, but with interest rates remaining low this year, borrower demand has rebounded.

He brings more than 12 years of experience in underwriting commercial real estate investments, including equity, debt and structured finance transactions.

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.

El Cortez Apartments is a value-add project that features 158 apartments and was 67 percent occupied at closing.

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.

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.

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 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.