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9/28/17
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Thorofare Capital Inc is expanding its strategic partnership with DoubleLine Capital LP after receiving an additional capital allocation for a new commercial real estate lending program that will fund senior whole loans up to $100 mil.
Through its multiple strategies, Thorofare provides loans ranging in size from $3 mil to $100 mil for the acquisition or refinancing of value-add and transitional multifamily, industrial, office, self-storage, student housing, retail, healthcare and hospitality assets in both markets throughout the United States.
In 2015, Thorofare announced a strategic partnership with DoubleLine to act as exclusive originator for commercial real estate (CRE) bridge loans within a range of mutually defined underwriting criteria. Those loans were acquired by the DoubleLine Opportunistic CRE Debt Strategy. The growth of the DoubleLine program expands Thorofare’s direct origination platform to include financings of up to $100 mil with a potential total lending capacity of more than $1 bil taking into account the use of leverage.
“Since the first loan origination under our strategic partnership with Thorofare Capital’s best-in-class origination platform, we have successfully funded $400 mil of loans,” said Morris Chen, portfolio manager and head of DoubleLine’s CMBS/CRE team.
With an established national presence and more than seven years of consistently delivering certainty of execution to middle market sponsors, the program is well-poised to grow market share and capitalize on an underserved niche, according to Thorofare Principal and CEO Kevin Miller.
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