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Thorofare Capital Issues $125.9M Loan For Medical Office Portfolio In Washington, D.C

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FINANCED
$125,900,000
Jay Miele
Ben Appel
+ 2

Dc

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Medical Office705,000 SF
Financed 11/21/2023
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FINANCED

Thorofare Capital Issues $125.9M Loan For Medical Office Portfolio In Washington, D.C

2440 M Street Northwest

See Similar Deals
Medical Office705,000 SF
Financed 11/21/2023
Jay Miele
Ben Appel
+ 2
Contact now

Summary

Asset Type:Medical Office
Price Per Square Foot:$178
Total Square Footage:705,000 SF
Transaction Type:Loan

A $125.9 million loan has been issued by Thorofare Capital Inc., an affiliate of asset management platform Callodine Group LLC, for a medical office portfolio in the greater Washington, D.C. area. The portfolio is comprised of a 705,000 square foot medical office located at 2440 M Street Northwest. The loan has a term of three years and carries a floating interest rate.

Summary of transaction details

  • Property Type: Medical Office
  • Transaction Amount: $125,900,000
  • Address: 2440 M Street Northwest, Washington, DC
  • Market: Washington, DC
  • Lender: Kevin H. Miller - Thorofare Capital
  • Landlord: Christopher Merrill - Harrison Street
  • Brokers: Ben Appel, Jay Miele, John Nero & Michael (Mike) Greeley - Newmark

The loan transaction involves several key individuals and companies. Kevin H. Miller from Thorofare Capital serves as the lender, while Christopher Merrill represents the landlord, Harrison Street. The brokers involved in the deal are Ben Appel, Jay Miele, John Nero, and Michael Greeley from Newmark. This loan provides financing for the acquisition of the medical office portfolio in the Washington, D.C. area.

Players

Michael (Mike) Greeley
19 deals$833M volume
BROKER

Jay Miele
Newmark
9 deals$663.8M volume
BROKER

John Nero
Newmark
7 deals$555.8M volume
BROKER

Ben Appel
Newmark
10 deals$773.4M volume
BROKER

Thorofare Capital
LENDER

Details

FINANCED
IMAGE: Kevin H. Miller, Christopher Merrill, Ben Appel, Jay Miele, John Nero & Michael (Mike) Greeley DATE: 11/21/2023 ADDRESS: 2440 M Street Northwest MARKET: Washington, DC ASSET TYPE: Medical Office ~ SF: 705,000 LENDER: Kevin H. Miller - Thorofare Capital LANDLORD: Christopher Merrill - Harrison Street BROKERS: Ben Appel, Jay Miele, John Nero & Michael (Mike) Greeley - Newmark LOAN AMOUNT: $125,900,000 LOAN TERMS: Three-year, floating-rate loan NOTE: Thorofare Capital Inc., an affiliate of asset management platform Callodine Group LLC, has issued a $125.9 million loan for a medical office portfolio in the greater Washington, D.C. area.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$125,900,000.00

Monthly NOI$839,333.33
Monthly Debt Service$795,773.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00