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Florida & Gulf Coast  + Miami + South Florida  + Retail  |  February 4, 2022
Artist rendering of a Miami street with newly constructed shops and restaurants leading to high rises
Lisa McDuffie
By: Lisa McDuffie

Thorofare Capital Provides $16M in Financing for Downtown Miami Development Site

Thorofare Capital, Inc., an affiliate of investment manager Callodine Group, has provided $16.3 million in financing to Moishe Mana, CEO of Mana Common, for the re-development of 129, 133-139 and 141 East Flagler Street properties in Miami, FL. The total assemblage consists of three properties, including the historic Shoreland Arcade building, totaling 89,533 square feet on 0.75 acres in the Flagler District.

Thorofare’s David Perlman originated the loan with Denis Barreto and Paul Hachigan leading the underwriting and executing the closing.

Mana, the largest private landowner in Miami, also owns a major part of the assets neighboring the Shoreland Arcade, where the CEO plans an interconnected retail and entertainment complex. His real estate division currently has four buildings in the Flagler District under construction expected for 2022 completion.

The current construction makes way for ground-up developments renovating the Flagler District corridors, including public gardens, courtyards, plazas, ground-level restaurants and commercial and office space.

Photo: Flagler District renovation rendering

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Thorofare Capital, Inc.

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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