Thorofare putting latest investment vehicles to work
Thorofare Capital has funded loans totaling $29.2m for retail financings secured by shopping centers across the country, putting to work a new $400m investment vehicle the firm announced in September, Real Estate Capital has learned.
In the largest of the three financings, the Los Angeles-based firm funded a $13.5m bridge loan for the refinancing of Forum Center, a 140,000 sq ft shopping center in the Hurstbourne Parkway corridor of Louisville, Kentucky. The non-recourse financing carries an initial term of one-and-a-half years at LIBOR plus 680 basis points. The loan was funded through the new investment vehicle, which writes floating-rate senior loans on value-add opportunities.