Thorofare Capital, Inc. has provided a loan of $52,150,000 to McKinley Homes for the refinancing and lease-up of 142 units within Seven88 West Midtown. The 279-unit Class A multifamily high-rise tower was built in 2020. David Perlman, managing director and head of Thorofare’s New York office based in Los Angeles originated the loan while Edward Prosser and Scott Sumida led the underwriting process before executing its closing.
Perlman commented that “Seven88 is an ideal residential product located in Atlanta’s fast growing Midtown West submarket.” He further added that it stands to benefit from ongoing migration trends towards this market due to its proximity with restaurant & bar scene at Georgia Tech University as well as numerous office buildings which have attracted tier one tenants nearby.
