Thorofare Capital funded a $3,600,000 bridge loan for a time sensitive acquisition of Class C manufacturing/industrial buildings. Built in 1965, the 64,500 SF industrial/manufacturing facility consists of 13 buildings and was 100% occupied by a Fortune 1000 company at the time of closing.

The loan has an initial term of two years with an extension option and was priced competitively over the 30-day LIBOR index. Upon acquisition, the Sponsor plans to refinance the bridge loan with conventional financing.

The Sponsor, which is a repeat client of Thorofare, is a multi-strategy investment firm that specializes in the acquisition and repositioning of debt instruments secured by commercial real estate.