Thorofare Capital has funded a $19,000,000 fixed rate bridge loan for the refinancing of MorningStar at Arcadia. The property is a 135-bed, 110-unit (80 senior living units and 30 memory care units) Assisted Living Facility.

Situated on a 1.12-acre site, the 4-story building was built in 2014 and contains 139,643 SF. The property is well located in a primarily residential community, but with good proximity to nearby commercial uses and public transportation.

The loan proceeds were utilized by the sponsor to retire a bank construction loan and repatriate equity to the ownership. The fixed rate, interest-only bridge loan carries an initial term of 18 months and includes an extension option.