Thorofare Capital funded a $4,400,000 short-term bridge loan for the acquisition and renovation of a 97-unit, class C multifamily portfolio located in Dallas, Texas. The portfolio consists of five apartment buildings that were 97% occupied at the time of closing.

The loan will have an initial funding of $3,471,600 with $928,400 future funded for scheduled renovations. The sponsor’s plan is to refinance Thorofare’s loan with permanent financing upon completion of renovation and stabilization of the portfolio.

The Sponsor is a repeat client of Thorofare, with over 10 years of experience and focuses on off-market acquisition opportunities throughout the US.