Thorofare Capital has funded a $4,000,000 fixed-rate bridge loan for acquisition, renovation and lease-up of a 72,300 SF, grocery-anchored mixed use property in Woodland Park, CO, a suburb of Colorado Springs. The time-of-essence transaction closed in just 15 days from application.

At the time of closing, Gold Hill Square South was 76% leased to a mix of both retail and office tenants, featuring City Market (Kroger credit) as the grocery anchor.

The non-recourse, one-year, interest only loan was sized to 70% loan to cost and includes a future funding facility for both renovations and TIs/LCs associated with leasing costs. The seller was motivated by a year-end closing, necessitating a reliable lender who could mobilize swiftly and close in less than three weeks from contract execution.