Thorofare Capital closed a $2,400,000 Bridge Loan for the Refinance of a First Mortgage Secured by a Multifamily Property in San Francisco, California.

The purpose of the transaction was to refinance the existing debt, which had come due imminently placing the Borrower in “term” default. The 1912-constructed, three-story, six-unit property has been significantly renovated and repositioned into for-sale tenant in common units (TIC) totaling 5,480 usable square feet. The Property is located at 581-591 Francisco Street, San Francisco CA.

The Property is located three blocks East of Russian Hill Park and four blocks Southeast of Fisherman’s Warf in the North Beach area of San Francisco. A six-car subterranean parking garage has been added to the Property. Also, the Property is surrounded by amenities and has good view of the Golden Gate Bridge, Alcatraz Island, and Russian Hill from the upper units and roof deck.