Thorofare Capital has funded a $4,500,000 short-term bridge loan for the refinance of a 27,700-square foot retail strip center in the Chinatown District of Los Angeles. This transaction was closed in 18 days from application.

The fixed-rate loan carries a total term of two years including extension options subject to performance hurdles. The Sponsor intends to re-develop the site with site with a mixed-use residential and commercial project.

The sponsor is a Canada-based institutional-like developer, having built in excess of 500 units and 2,000,000 square feet of Class A, luxury multifamily properties throughout Canada and the U.S.