Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Texas  + Austin  + Office  | 

Thorofare Capital Provides Acquisition Financing for Austin Office Project

Thorofare Capital has provided acquisition financing to Urbana Partners for its purchase, renovation, and lease-up of an office project located at 7501 North Capital of Texas Highway in Austin.

The three-building property was primarily leased to Indeed.com, which moved out during the ongoing Covid pandemic to consolidate into its other Austin properties. The asset will potentially be 100% vacant in September of 2022, allowing the sponsor to complete a full capital improvement plan.

Thorofare’s David Perlman originated the loan with the firm’s Eddie Prosser, Henry Johnson, and Scott Sumida leading the underwriting and executing the closing of financing.

“This is our second Texas financing within the past two weeks and our first in Austin in over two years. We believe our cost basis is very attractive and we are confident in the sponsor’s ability to execute on their business plan,” said Perlman. “The unique nature of this purchase, with three identical office buildings, allows the sponsor optionality to not only lease-up the project, but also explore selling the buildings individually to owner-users.”


Inside The Story

Thorofare Capital’s Perlman

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Sale/Acquisition