Thorofare Capital has funded a $1,917,500 senior bridge loan (the “Loan”) to finance the acquisition of an industrial distribution and showroom facility, located in Rancho Cordova, California.

The sponsor opportunistically acquired the single-level, multi-tenant property with the intent to reposition and sell it within a short time frame, achievable through Thorofare’s flexible pre-payment terms. Thorofare’s Loan covered 65% of the total acquisition cost, and equated to a loan basis of $23.51 per square foot.

The property consists of 81,561 total net rentable square feet and can be utilized as office/flex, warehouse, and/or showroom space. The fully heated and air-conditioned property also contains 560 feet of frontage to Highway 50, with an average traffic count of 136,000 cars per day.

The property is located on “Furniture Row”, which is situated between Sunrise Boulevard and Hazel Avenue on Folsom Boulevard. Furniture Row garners one of the highest concentrations of furniture retailers in the Greater Sacramento area. Furniture retailers formerly occupied the now-vacant Property. A suite totaling 58,000 square feet is in “turnkey” condition.