Thorofare Capital has funded an $8,400,000 fixed-rate bridge loan for the re-development of the Wyckoff Portfolio, an 18-unit multifamily portfolio located in the Bushwick neighborhood of Brooklyn, New York. The loan was structured as an A/B participation loan with Thorofare providing the Senior A-Note of $7,050,000, and an undisclosed investor providing the B-Note of $1,350,000.

The Wyckoff Portfolio consists of four separate buildings totaling 16,100 square feet of gross rentable area. Each building consists of three story walk-ups with full cellars. Upon the completion of renovation, the portfolio will consist of 18 residential units.

The sponsor is a Brooklyn, New York-based real estate development and property management group that focuses on value-add re-positioning, renovation and ground up construction projects throughout Brooklyn. Over the last 25 years, the sponsor has successfully re-positioned over $600 million in various asset classes.