Thorofare Capital has funded $12,645,000 for the discounted payoff of a portfolio of three hotels and two apartment buildings located in Norfolk, Portsmouth and Hampton, Virginia.

The first hotel, also known as the Norfolk Plaza Hotel, offers 204 newly renovated deluxe guest rooms and over 15,000 square feet of meeting rooms with full catering services available. Norfolk Plaza Hotel, located in Norfolk, VA. Norfolk Plaza Hotel has a 5 year contract that grants for 100 rooms with the Navy.

The second hotel, also known as The Governor Dinwiddie Hotel & Suites, is a 60-room property located in Downtown Portsmouth’s Old Town District. The hotel was renovated in 2009 and is adjacent to the Intelos Pavilion, Virginia Sports Hall of Fame and the Children’s Museum. The hotel has over 2,245 square feet of meeting and banquet space. The property currently appeals to both individuals and groups, due to the flexibility in pricing to compete with mid-level competition and the range of available meeting spaces.

The third hotel, also known as the Tazewell Hotel & Suites, consists of 58 rooms located in the heart of Downtown Norfolk’s Theater, Entertainment and Historic Business Districts. Convenient to I-264, the hotel is within short walking distance of most corporate /government offices, the Waterside Festival Marketplace, MacArthur Center Mall, Nauticus and the Battleship Wisconsin and the Half Moone Cruise & Celebration Center, and is within minutes of all area attractions, the Virginia Beach oceanfront & all naval bases. Additionally, Snappers Restaurant and the Empire Little Bar & Bistro complete the hotel’s storefront and generate stable cash flow.

The first apartment building, also known as Kings Way Apartments, consists of 22 units blending authentic historic architecture with modern city living located in the heart of downtown Hampton, VA.

The second apartment building, also known as Oxford Place Apartments, is a brand new mixed-use development with 24 luxury condos. Oxford Place Apartments is located in the heart of Olde Towne Portsmouth across from the Children’s Museum and VA Sports Hall of Fame and down the block from the TCC Technical Center. Additionally, Oxford Place Apartments has 7,400 square feet of retail space.