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March 25, 2020 Comments Off on Thorofare Capital Funds $24M Acquisition Loan for Beverly Hills Portfolio Views: 1680 California News, Los Angeles

Thorofare Capital Funds $24M Acquisition Loan for Beverly Hills Portfolio

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Los Angeles-based Thorofare Capital funded a $23.8 million acquisition loan for a Beverly Hills, CA portfolio. The properties include 415 North Camden Dr., a 17,936-square-foot, two-story mixed-use retail, medical and office use building in the renowned Beverly Hills Golden Triangle. The second property includes a 10,884-square-foot medical office building, located at 152-160 South Lasky Dr., adjacent to the Lasky Hotel development across the street from the Peninsula Hotel.

JLL’s Marc Schillinger and Eric Boucher advised the borrower, a local private real estate investor. Thorofare mobilized quickly to step in as a reliable financing source after another non-bank bridge lender was sidelined due to CLO dependence.

“JLL contacted us over the weekend after learning that a previous lender was unable to proceed. We mobilized to close this transaction in seven business days, based on the attractive location of the real estate, the experienced sponsorship and financing metrics,” said Felix Gutnikov, Thorofare’s head of originations.

“Our broker, borrower and counter-party relationships have held us in high regard due to our consistency over the past decade. We set a goal to continue delivering on our promises across market cycles, and even at times of market uncertainty,” added Edward Prosser, Thorofare’s managing director of credit.

*Pictured 415 North Camden Dr.

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