New York & Tri-State + New Jersey + Finance | July 14, 2022

Thorofare Capital provided copnstruction financing for an industrial property in Freehold, New Jersey

Thorofare Provides Construction Loan on Central NJ Industrial

Thorofare Capital, Inc. provided $28.5 million in financing to Treetop Companies for construction of 500 Halls Mill Rd., a 206,881-square-foot Class A industrial building in Freehold, NJ. The sponsor has executed a forward contract to sell the asset once completed to a 3PL company.

David Perlman, managing director and head of Thorofare’s New York office, originated the loan with the firm’s Jacob Yi and Paul Hachigian leading the underwriting and executing the closing of financing.

“The New Jersey industrial market is one of the most robust industrial markets in the country with limited land remaining for prime industrial development,” said Perlman. “This location, with close access to market population centers in the Northeast, is ideal for an industrial project of this size and quality.”

Cushman & Wakefield’s John Alascio, TJ Sullivan, Chuck Kohaut, and Meredith Donovan placed the financing for this transaction.

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Inside The Story

Thorofare's Perlman

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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