Thorofare Capital has funded a $4,450,000 fixed rate bridge loan for the recapitalization a 147,585 SF multi-tenant shopping center located in East Hartford, Connecticut.  The time-of-essence transaction closed in just five days from application.

School Street Plaza’s featured tenants include O’Reilly Auto Parts (NASDAQ: ORLY), Cardio Express Gym, Dunkin’ Donuts (NASDAQ: DNKN), Family Dollar (NASDAQ: DLTR), Rent-A-Center (NASDAQ: RCII) and Bank of America (NYSE: BAC).

The one year, interest-only bridge loan was utilized by the sponsor for the purpose of using the unencumbered property as collateral to repatriate equity, which was subsequently used to purchase another project in New York by year-end.