Thorofare Capital has funded a $5,000,000 discounted payoff financing (“DPO”) transaction secured by a mixed-use business complex comprised of two commercial properties located in the Miami suburb of Homestead, Florida. The discounted payoff represents a 54% principal reduction on the existing debt balance.

The properties include a 1992-vintage 14,600 square foot single story retail strip center and a 2004-vintage 29,550 square foot mixed-use office and retail building. The recently renovated properties share a large parking lot and are 100% occupied by a mix of local, regional, and national tenants.

The property offers a variety of uses, including a medical office operated by a Fortune 500® company, a diagnostic imaging clinic, a grocery retailer, and a regional educational facility. Thorofare provided 65% loan to value and cooperated with a junior lender in order for the borrower to secure maximum leverage for this opportunistic DPO.