Thorofare Capital has funded a $9,545,000 floating rate whole loan for the acquisition, renovation and lease-up of Corporetum Office Campus VI, a 168,700 SF office property located in Lisle, Illinois.

The non-recourse, interest-only loan carries a total term of five years, if fully extended. Priced at a competitive spread over LIBOR, proceeds from the subject loan will be used by the local sponsor to stabilize the value-add property.

The property consists of two buildings connected by a sky bridge totaling 168,696 SF. One of the two buildings consists of 4-stories with a lower level, 80,344 SF and was 90.5% leased at the time of closing. The second building consists of 5-stories, 88,352 SF and was 76.7% leased at the time of closing. The Property is part of the master planned Corporetum Office Campus and features amenities such as a fitness center, conference center, on-site café, and outdoor tenant balconies.

The sponsor is a local private investment firm with institutional experience.