Thorofare Capital has funded $7,000,000 note in acquisition financing for a non-performing senior note secured by the Plaza District Apartment portfolio (the “portfolio”). The Portfolio consists of low and mid-rise multi-family properties located at multiple addresses in Kansas City, Missouri, near the Country Club Plaza shopping district.

The portfolio consists of six 3-story apartment buildings and one 9-story apartment building (the “improvements”). The improvements were constructed from 1924 to 1967 and are situated on six non-contiguous sites totaling 2.411-acres. The portfolio comprises of a total of 187 units, 130,545 rentable square feet, and is 85.6% occupied.

The portfolio includes Plaza Towers, Cambridge Apartments, Seville Plaz, Jabroe Place, Oak Rose Place, and Marquis Plaza. Thorofare provided 65% of the total acquisition cost and closed the transaction in less than three weeks.