Thorofare Capital Inc., an affiliate of Callodine Group, has provided a $26.584 million loan to Thor Equities and its institutional capital partner for the refinancing and renovation of a two-building, 220,000-aggregate-square-foot industrial complex in Bogota, New Jersey.
Thorofare’s David Perlman originated the loan with Edward Prosser and Henry Johnson, leading the underwriting and executing the closing of the financing.
“We are excited to have closed another loan with Thor and their team and look forward to helping them execute their renovation plans to bring this asset to today’s industrial standards,” said Perlman, who is the managing director and head of Los Angeles-based Thorofare’s New York office. “24 River Rd. is prime industrial real estate and is within 5 miles of the George Washington Bridge and essentially within the New York City MSA, offering tenants a distribution and warehouse facility that can service millions of people in a short drive.:
This is the sixth loan Thorofare closed in 2023. Last year, Thorofare closed over $692 million in financing. Thorofare continues to work with institutional sponsors on their capital needs across the country.
