Thorofare Capital has funded $5,000,000 for the refinance of the borrower’s existing $6,600,000 mortgage. The previous lender forgave a $4M business line of credit in exchange for immediate payoff of the 1st trust deed.

The 1st trust deed is current on all payments and the borrower will commit at least $1,700,000 in cash to buying down the loan amount. The Subject Property, a class A 56,125 RSF owner/user flex office property was built in 2008 at a cost of $13,500,000.