Thorofare Capital has funded $9,100,000 in Discounted Payoff (“DPO”) financing at 100% LTC for a 220,424 rentable square foot industrial, single-tenant manufacturing building. The transaction closed within one week of application to capture a highly discounted DPO, representing 73% of the outstanding principal balance.

The property is in good condition and was built in 2001. The property’s clear height varies across the site ranging from 20’ – 40’ and contains three dock high doors and three ground level doors. The single tenant, Paris Precision, LLC, is a sheet metal manufacturer with 120 employees and has been in business since 1962.

Paris Precision serves clients in the commercial and defense aerospace, medical devices and instrumentation, transportation, defense, electronics, computer/networking, machine tools, data center, telecommunications, audio products, and entertainment industries. Clients include NASA and Google. Paris Precision’s current lease was negotiated in January 2013 and extends to February 2023.