Thorofare Capital has funded a $26.25 million fixed-rate bridge loan for the refinancing of The Abbott Kinney & Melrose Place portfolio, a three-property “high street” retail and creative office portfolio leased to a variety of commercial tenants. The loan closed in just 10 days from application.

The first property on Melrose Place is a two-story, multi-tenant luxury boutique storefront located at the northeast corner of Melrose Place and Alfred Street, and one block east of La Cienega Boulevard. The retail property is 100% leased and occupied by two tenants, Frédéric Fekkai, a luxury hair care brand and salons, and Equipment, a contemporary women’s ready-to-wear fashion brand.

The second property is comprised of a single-story restaurant building, located on the north side of Melrose Place, and includes an outdoor dining patio area. The sponsor signed a new, long-term lease with a renowned restaurateur that plans to take occupancy imminently. The property is in the core of what has been known as a prestigious retail node along a single-block corridor between La Cienega Boulevard and Melrose Avenue, catering to high-end apparel and luxury lifestyle brands and gourmet restaurants.

The third property is a creative office building that consists of a 2007-built, single-tenant commercial building located on the south side of Abbot Kinney Boulevard, between Aragon Court and Cadiz Court, in the community of Venice. It is situated along the famed shopping district of Abbot Kinney Boulevard, which stretches one mile from Venice Boulevard to Main Street in Venice Beach. The property is 100% leased to an international, creative digital production company specializing in advertising. Abbott Kinney is a destination pedestrian retail area that consists of storefront retail and restaurants.

The sponsor is a Beverly Hills-based, private investor that specializes in the acquisition, repositioning and redevelopment of high-rent retail and office properties located in supply-constrained, urban/in-fill locations throughout West Los Angeles.