Thorofare Capital successfully arranged a $25,035,000 loan for Grubb Properties to finance and lease-up their two-building mixed-use project in Chapel Hill. The property boasts 121,000 aggregate-square-feet and includes an adjacent parking deck with 306 spaces. This prime location on Franklin Street is directly across from the University of North Carolina – Chapel Hill campus and anchors the new Innovation District.
David Perlman of Thorofare led the origination of this loan for a strong sponsorship group. He expressed his excitement about providing financing for such a valuable property in a highly competitive market like Chapel Hill’s college town area. With this transaction being Thorofare’s 15th closed loan so far in 2023, they continue to remain active in various sub-categories within major CRE property types including industrial outdoor storage, commercial truck parking, parking garages, seniors housing facilities,data centers,and self-storage units.
