Thorofare Arranges $25M Loan for NC Mixed-Use Project

Thorofare Capital arranged a $25,035,000 loan to Grubb Properties for the financing and lease-up of a two-building, 121,000 aggregate-square-foot, mixed-use project with an adjacent 306-space parking deck directly across the street from the University of North Carolina – Chapel Hill. 

Thorofare’s David Perlman originated the loan. “We are thrilled to have provided this strong sponsorship group financing on a mixed-use property that is anchoring the new Innovation District within Chapel Hill,” said Perlman. “The property’s prime location on Franklin Street, the main retail corridor for the University of North Carolina – Chapel Hill and directly across from campus, makes this an irreplaceable college town location in a highly supplied constrained market.”

This transaction marks the 15th loan Thorofare has closed in 2023. Thorofare remains active in other sub-categories of major CRE property types as well, including industrial outdoor storage, commercial truck parking, parking garages, seniors housing, data centers and self-storage