Thorofare Capital Provides $32.5M Acquisition Loan for Retail Property in Indianapolis

by Christina Cannon

INDIANAPOLIS — Thorofare Capital has provided an affiliate of Arciterra Group LLC with a $32.5 million acquisition loan for a retail property in Indianapolis. Castleton Square & Commons is a 256,582-square-foot power center located on Castleton Corner Drive. Tenants at the property include REI, Golfsmith, Dave & Busters, Haverty’s Furniture, Buffalo Wild Wings and DXL Casual Male. The property was 94 percent leased at the time of sale. The seller was an affiliate of Ann Arbor, Mich.-based McKinley Inc. The non-recourse, floating-rate loan is for a period of two years and includes two six-month extension options, a flexible prepayment structure and was priced at a competitive spread over LIBOR.

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