Thorofare Capital raises $205m for fourth fund
Thorofare Capital has raised more than $205 million for Thorofare Asset Based Lending Fund IV, according to a filing with the SEC. The fund launched in October 2015.
The Los Angeles–based firm provides loans between $2 million and $30 million, with average terms of 12 to 18 months. In March 2016, the fund funded a $26.25 million fixed-rate bridge loan for the refinancing of The Abbott Kinney & Melrose Place portfolio, a three-property retail and creative office portfolio leased to a variety of commercial tenants.
Thorofare Asset Based Lending Fund IV is a follow-up to a similarly named predecessor, which raised $288.1 million in 2013. In 2015, the fund funded a $7.8 million nonrecourse, fixed-rate bridge loan for the acquisition of Beverly Grove Retail, a 12,500-square-foot high-street retail property located on Beverly Boulevard in Los Angele