Thorofare Capital has funded a $3,600,000 fixed-rate bridge loan for the acquisition of a single-tenant net lease industrial property located in the South Bend / Mishawaka, Indiana sub-market.

The transaction was closed in 14 days from application to assist a strategic sale-leaseback that was negotiated in an off-market transaction. The one-year acquisition loan includes a favorable prepayment structure to allow for an imminent sale to a third party investor.

The property is a two-building industrial warehouse and office complex that is leased on a 20-year bond-style NNN lease. It features 18-20 feet clear heights, 16 dock-high doors and 9 drive-in doors. It is used for warehousing and distribution, as well as administrative office space.

The sponsor is a Ft. Worth, Texas-based private investment group that focuses on high yield single-tenant net leased investments and investment-grade ground up built-to-suit development.