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HOUSTON — Los Angeles-based Thorofare Capital has funded a $3.15 million acquisition loan for the 208-unit Chelsea Lane Apartments in Houston. The borrower, a multifamily investor, plans to purchase, renovate and re-tenant the apartment community. The renovation is expected to cost $1 million and will include roof repairs, an updated HVAC system, updated project gates, parking lot repairs, plumbing upgrades, floor and window renovations and updated cabinetry. The property was built in 1974 and is currently 41.8 percent occupied. Thorofare funded 67 percent of the total project costs, including transaction fees, renovation budget and closing costs.