Thorofare Capital provides $125.9 million senior mortgage loan for mid-Atlantic portfolio

Washington, DC Thorofare Capital, Inc., an affiliate of asset management platform Callodine Group, LLC, closed $125.9 million in financing for eight class-A clinical medical facilities totaling more than 705,000 s/f located in the Greater Washington, D.C. Capital Region, and surrounding submarkets. Thorofare provided a floating-rate, three-year mortgage loan, its largest single financing transaction ever, secured by the collection of institutional-quality medical buildings, to a Harrison St. investment vehicle.

The portfolio is comprised of assets with stable investment fundamentals, and the properties are all located in primary markets with strong demand for healthcare services. A significant portion of the portfolio is located on or adjacent to leading hospital campuses within these markets.

The transaction was executed by Felix Gutnikov, Thorofare’s principal and head of originations, along with managing director of credit, Jacob Yi, and associate director of originations, Nicholas Krueger.

Gutnikov said, “We have fostered a relationship with Harrison St. over the years, and this transaction is the culmination of our prior collaboration and their trust in our ability to execute this multi-property, multi-state portfolio financing with a swift, reliable, and flexible approach.”

Newmark Healthcare Capital Markets Group’s senior managing director John Nero and executive managing director Ben Appel, in cooperation with senior managing directors Jay Miele and Michael Greeley, represented the borrower.

Nero said, “We understood from the outset that the portfolio was a distinct offering in the marketplace. The experience of both borrower and lender in the medical office sector were key to a successful execution.”