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Thorofare Lends on Sorrento Mesa Life Science Acquisition
Thorofare Capital, Inc., an affiliate of investment manager Callodine Group, provided a loan to King Street Properties for the acquisition and conversion of 5825 Oberlin, a 60,518-square-foot life science building located in San Diego’s Sorrento Mesa submarket.
Thorofare’s David Perlman, managing director and head of Thorofare’s New York office, originated the loan with colleagues Edward Prosser and Paul Kim, leading the underwriting and executing the closing of the financing.
“Like most lenders and equity investors, Thorofare has identified the life science theme as a primary investment target for 2023, especially in the top five life science markets nationally,” said Perlman. “Financing a life science acquisition in San Diego, one of the top life science markets, for premier sponsor King Street Properties, at an attractive basis, checked all of the boxes for this strategy. We are also thrilled to begin a relationship with this sponsor.”
- ◦Financing
