Thorofare Capital has funded a $27,130,500 loan for the acquisition, renovation and future lease-up of Mount Kemble Corporate Center, a 229,685 SF, two-building Class A office campus located in Morristown, New Jersey.

At the time of loan closing, the Property was 80.8% occupied with the four largest tenants at the Property occupying 50% of the NRA and having a weighted average lease term remaining of over 7 years. The non-recourse loan was competitively priced over the 30-day LIBOR index, and will have an initial term of 36 months with a flexible prepayment structure.

The Sponsorship is comprised of a co-GP partnership, with a portfolio of over 6,000,000 SF of suburban and CBD office space. The Sponsor owns and manages seven office buildings in New Jersey totaling 1,800,000 SF.