Thorofare Capital has funded a $5,750,000 fixed-rate bridge loan for the refinance of a 73,455 SF anchored retail and medical office property located in Las Vegas, Nevada.

The improvements were constructed in 2001 and consist of five, single story buildings located at the northeast corner of Valley Drive and West Craig Road. Craig Valley Plaza is currently 90.5% leased and is anchored by Opportunity Village Association (28,119 SF or 38.3% of NRSF), Nevada’s largest private, not-for-profit community rehabilitation program. Additional tenants include Denny’s (NASDAQ: DENN), Money Tree Inc. and Regis Corporation (NYSE: RGS).

The one year, interest-only bridge loan was utilized by the sponsor to pay off an acquisition loan that was approaching maturity. The borrower increased occupancy by more than 35% since buying the property in 2014.