Los Angeles-based portfolio lender Thorofare Capital has funded a $6.5 million floating-rate commercial mortgage for the acquisition of the Apple Valley Office Campus, a 130,440-square-foot, three-building office campus near Wright Patterson Air Force Base in Beavercreek, Ohio.
The non-recourse financing structure included an initial term of three years with extensions, and was sized to 70 percent of the total project capitalization.
Thorofare included about $1.6 million in TI/LC reserves to support potential re-tenanting costs, as well as $100,000 to address immediate CapEx needs.
