In the news. Around the nation.

The financing is secured by Bereley at Waypointe and Quincy Lofts, two Class-A apartment communities developed in 2016 by the sponsor, a joint venture between affiliates of Alex. Brown Realty, Inc. and Belpointe Companies.

El Cortez Apartments is a value-add project that features 158 apartments and was 67 percent occupied at closing.

Thorofare Capital is featured in Multi-Housing News’ article to describe how non-bank multifamily bridge lenders are finding innovative ways to stay competitive with banks.

Mission Capital Advisors announced that its debt and equity finance group has arranged $13 million of non-recourse, floating-rate financing to recapitalize 110 E. Pearson Street.

Private debt activity is growing. While banks, institutions, and the agencies are taking a bulk of the pie, private lenders are filling a void for small and mid-sized operators.

Thorofare Capital has provided $35.8 million of short-term financing against Heritage Square I & II, a 368,214-square-foot office complex in Dallas, allowing the property’s owner, Brookwood Financial Partners, to refinance existing debt and fund the property’s stabilization.

The Brooklyn Cos., a downtown Los Angeles-based firm billed as a real estate firm serving family offices, has acquired a four-story, 54-unit, 45,000-square-foot mixed-use apartment building at 240 S. Western Ave. in Koreatown, for $11.3 million

The 16-story Sheraton Silver Spring Hotel, located 7 miles north of downtown D.C., features 229 keys. Built in 1971, the property underwent recent renovations.

Thorofare Capital has closed its first loan backed by a data center and is looking to spend up to USD $100mm more to increase its exposure to first-lien mortgages secured by that asset class.

The structured loan repays the borrower’s construction loan and funds reserves while the facility continues its stabilization.