Thorofare Capital Funds $40 Million Loan for Hartford, CT Office Buy

LOS ANGELES - Jan. 12, 2017 - PRLog -- Investment manager and portfolio lender Thorofare Capital has provided an affiliate of Shelbourne Global Solutions with a $40 million floating-rate commercial mortgage for the acquisition of Metro Center, a 293,640-square-foot Class A office building, located in Hartford, CT.

The 12-story building is 100% percent occupied and featured tenants include Lincoln Financial Group, an affiliate of Fortune 250 financial holding company Lincoln National Corporation  and Cohn Reznick LLP.   The property contains an attached, six-level, 1,200+ space parking garage.

"The property offers superior amenities such as an above market parking ratio, a café, a gym, and is strategically located. The recent early renewal of Lincoln Financial Group, through 2028, demonstrates the Property's ability to retain its impressive tenant roster in a competitive CBD office leasing environment," commented Brendan Miller, Principal and CIO of Thorofare Capital.

The non-recourse, interest-only loan carries a total term of five years, if fully extended.  The structure includes a TI/LC Reserve to cover leasing renewal costs.

"We are pleased to establish a relationship with Shelbourne while they cement their position as a pre-eminent landlord for the Hartford CBD, which has benefited from new residential development spurred by the education and tech sectors," added Felix Gutnikov, Principal and EVP, Origination at Thorofare.

Since early 2013, Brooklyn, NY-based Shelbourne has acquired more than four million square feet of class "A" office and flex space, including two Class A office towers in the Hartford CBD, the 281,000-square-foot 100 Pearl Street and the 420,734-square-foot 20 Church Street.

The financing transaction was arranged by Meridian Capital Group's New York City office.

About Thorofare Capital

Thorofare Capital (Thorofare, LLC) http://www.thorofarecapital.com is an SEC-registered alternative investment manager that specializes in providing senior mortgage debt solutions to borrowers seeking to opportunistically purchase or recapitalize middle market commercial real estate assets throughout the United States. Through Thorofare's two types of lending programs – Fixed Rate Bridge Loans and Floating Rate Whole Loans – it directly originates secured first mortgage positions from $3,000,000 to $40,000,000 on commercial cash-flowing assets across the country.  Thorofare has originated more than $1 billion of assets in its series of private fund vehicles and institutional accounts.  Thorofare's investors include family offices, foundations, wealth managers, institutional accounts and high net worth individuals.

This communication is for informational purposes only and intended for our non-advisory loan origination and servicing clients only. As such, nothing herein is an offer or solicitation for the purchase or sale of any security, may not be relied upon in connection therewith, and is qualified in its entirety by any related Private Placement Memorandum and Partnership Agreement. An investment in a private real estate fund involves a substantial degree of risk and investors could lose some or all of their investment. Thorofare Capital Inc's affiliate Thorofare, LLC is the company's investment advisory affiliate. SEC registration does not imply any particular level of skill.