DoubleLine and Thorofare Capital Join Forces to Capture Commercial Bridge Lending Market

Los Angeles, June 2, 2015 /PRNewswire/ -- Thorofare Capital today announced a strategic partnership with DoubleLine Capital LP under which Thorofare will originate, underwrite and service middle-market commercial real estate bridge loans throughout the United States.  The loans will be purchased for clients whose accounts are managed under the DoubleLine Opportunistic CRE Debt Strategy. 

Thorofare will serve as the exclusive originator for commercial real estate bridge loans within a range of underwriting criteria mutually defined by Thorofare and DoubleLine.

The DoubleLine Opportunistic CRE Debt Strategy seeks to generate attractive risk-adjusted returns and produce stable current income through direct origination of commercial real estate loans and investments in subordinate CMBS (B-piece) securities from the primary CMBS market.

The strategic partnership is part of Thorofare's Floating Rate Bridge strategy, which was launched in September 2014 when Thorofare received its first commitment of capital from DoubleLine. The program will fund senior whole loans ranging from $5 million to $20 million for the acquisition and refinance of multifamily, retail, industrial, hospitality and office properties with terms between two and five years as well as financing non-performing loans, discounted note payoffs, and note portfolios.

"DoubleLine is excited to collaborate with Thorofare to take advantage of what we view as a timely market opportunity in the commercial real estate bridge loan market," said Morris Chen, portfolio manager and head of DoubleLine's CMBS/CRE team.

"By combining the capital markets expertise of DoubleLine with Thorofare's best-in-class origination platform, we believe we can provide uniquely structured loan products and continue to offer borrowers exceptional service and pricing," said Kevin Miller, CEO of Thorofare Capital, Inc.

About DoubleLine

DoubleLine Capital LP is a registered investment adviser under the Investment Advisers Act of 1940. DoubleLine and its affiliates managed approximately $73 billion in assets held in closed- and open-end 1940 Act fund, exchange-traded fund, separate account, hedge fund, variable annuity and UCIT vehicles as of the March 31 end of the first quarter of 2015. Media can reach DoubleLine by e-mail at [email protected].

About Thorofare

Los Angeles-based Thorofare Capital ("Thorofare") is a middle market loan origination and servicing company. The firm focuses on providing debt solutions to borrowers seeking to acquire or recapitalize value-add and opportunistic middle market commercial real estate transactions. Since inception in 2010, Thorofare and its affiliates have originated over $500 million of loans located in 26 states throughout the US.

Thorofare's lending relationship with DoubleLine is conducted through TC Debt Opportunities, LLC.  Thorofare's affiliate, Thorofare, LLC, is an SEC Registered Investment Adviser. This communication is for informational purposes only and intended for Thorofare's non-advisory loan origination and servicing clients only. Nothing herein is an offer or solicitation for the purchase or sale of any security, and may not be relied upon in connection therewith. SEC registration does not imply any particular level of skill.

SOURCE Thorofare Capital