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“Institutional-like properties that have cash-flow and are considered light repositioning or are in a transitional phase e.g. leases rolling within the next 1-3 years and need to have structure before being refinanced with permanent CMBS, LifeCo., bank or GSE financing.”

“Floating rate whole loans for experienced sponsors acquiring or recapitalizing transitional properties through future-funded CapEx, TIs and LCs. View Terms”

“Acquisitions and refinance, construction completion, and ground-up construction View Terms Request Loan Programs”

“Timing to Close 25-40 Days from application Loan Size $15 million to $50 million LTV The lesser of 75-80% of “as-is” value or 65-75% of “as-stabilized” value Lien Position Senior secured first mortgage or deed of trust Loan Term Initial term of 2-4 years, with a total term of 5 years (if fully extended) Extensions Interest-only with market-driven amortization during the Extension(s) Interest Rate 1-Month Term SOFR + 300-495bps; ability to PIK/accrue to maturity Amortization Interest-only Debt Yield Preference for going-in NCF DY of 4%+; non-cash-flowing properties requiring an interest reserve are evaluated on a case-by-case basis Yield Maintenance Typically 50% of the Loan Term; with exceptions on a case-by-case basis Recourse Non-recourse, other than standard “bad boy acts”; heavier CapEx may require a Completion Guaranty TI/LC Facility Future funding facility towards future tenant improvements and leasing commissions CapEx Holdack Holdbacks for renovations, with timely review and disbursements typically occurring within 10 days after submission of a complete draw request package Deposits Expense deposit adequate to cover third party reports, legal fees and other customary deal costs Origination & Exit Fees Market competitive fees adjusted to loan size, timing and complexity”

“Timing to Close 45 days from application Loan Size $25 million to $75 million (Min initial funding at close of $15M) LTV Up to 68% LTV “as-stabilized” / 75% LTC of total project costs Lien Position Senior secured first mortgage or deed of trust Loan Term 2+1+1, 3+1+1 initial term Extensions Case-by-case Interest Rate 1-Month Term SOFR + 450-595bps; ability to PIK/accrue to maturity Index Floor Index Floors are set prior to loan origination at competitive levels Amortization Interest-only Debt Yield 8-11% stabilized debt yield 1.10X as stabilized DSCR acceptable if supported by a Debt Service Reserve Yield Maintenance Typically 50% of the Loan Term; with exceptions on a case-by-case basis Recourse Non-recourse, with standard carve-outs, construction completion guaranty, carry and interest reserve replenishment guaranty TI/LC Facility Funding of up to 100% of tenant improvements and leasing commissions CapEx Holdbacks Holdbacks for construction with timely review and disbursements App Deposit Expense deposit adequate to cover third party reports, legal fees and other customary deal costs Origination & Exit Fees Market competitive fees adjusted to loan size, timing and complexity”

“Timing to Close 5-20 days from application Loan Size $15 million to $75 million LTV Up to 68% LTV (maximum advance to 80% LTV with inclusion of “B Note,” or Mezzanine Financing in structured transactions) Lien Position First Mortgage or Deed of Trust or Note Hypothecation for Note-on-Note Financing Loan Term 1 to 3 years Extensions 6 to 12 months, available at market extension fees Interest Rate 1-month Term SOFR + 350-550bps; ability to PIK/accrue to maturity Amortization Interest-only, additional structure/sweeps may be required on a case-by-case basis Debt Yield Below 1.0X DSCR acceptable if supported by a Debt Service Reserve, cash-flowing assets preferred Yield Maintenance Minimal pre-payment penalty, generally 1/2 of initial term Recourse Non-recourse, other than standard "bad boy acts" or Recourse structure for higher risk transactions TI/LC Facility Future funding facility towards tenant improvements and leasing commissions CapEx Holdack Holdbacks for renovations, with timely review and disbursements typically occurring within 10 days after submission of a complete draw request package Deposits Expense deposit adequate to cover third party reports, legal fees and other customary due diligence or underwriting costs Origination & Exit Fees Market competitive fees adjusted to loan size, timing and complexity”

“Through a series of funds, joint ventures, and separate accounts, Thorofare originates opportunistic, value-add, and construction loans.”

“Typically time-constrained, quick-close special situations such as auction acquisitions, discounted loan payoffs (DPOs), non-performing loan (NPLs) acquisitions, 1031 exchange or maturing loan deadlines where qualified borrowers need a reliable, balance sheet lender to offer certainty of execution and prepayment flexibility. Also, projects that are considered heavy lifts, where CapEx future funding may exceed 50% of the total loan commitment, or a cash-flow shortfall (due to in-place occupancy at the time of loan closing or a completely vacant asset) requiring a full interest reserve funded at closing.”

“Name* Email* Your name and email are kept confidential. By submitting this form, you are subscribing to future emails from Thorofare Capital. * Required CSR Careers Newsletter 200 N Pacific Coast Highway, Suite 1850, El Segundo, CA 90245 213.873.4000 © 2026 Thorofare Capital, Inc. All rights reserved. Our website is for informational purposes only and intended for our non-advisory loan origination and servicing clients only. As such, nothing herein is an offer or solicitation for the purchase or sale of any security. Investors may log into their private investor account using the Login link above. Deal terms subject to change at our discretion. Investments in real estate loans involves substantial risk. Total figures include follow-on funding for loans originated.”

“Value-add Acquisitions Lease-up or Upcoming Rollover Partnership Recapitalizations Bridge-To-Sale Refinance 5-Year CMBS 2.0 Maturity / Transition”

“Acquisitions Acquisitions & Refinances Construction Completion Ground-Up Construction”

“Value-Add Acquisitions Lease-Up or Upcoming Rollover Partnership Recapitalizations Bridge-to-Sale Refinance Moderate/Heavy Renovation Note-on-Note/Lender Financing”

“Opportunities where we finance the acquisition of a property that has leasing of vacancy or below-market in-place rents and qualified borrowers seek to add value by completion a renovation or improving management to maximize cash-flow through a well-capitalized TI/LC budget or CapEx budget. These are loans that start with 2-3 years of initial term followed by 1-3 one-year extension options totaling 5 years of total loan term. Renovation and leasing costs are "future funded".”

“Our approach to commercial real estate lending is to build long-term relationships by providing a transparent, reliable and swift process to our clients. With ongoing fluctuations in the capital markets, we seek to deliver superior risk-adjusted returns to our investors while our borrowers benefit from consistent certainty of execution. This philosophy has remained unchanged since our founding in 2010.”

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“Commercial Real Estate”

“Loans Commercial Real Estate”

“Whether you are developing an apartment building, condominium building, or speculative (spec) single family home, our Loan Officers have the knowledge and expertise to help you and your project succeed.”

“X/Twitter This field is for validation purposes and should be left unchanged. Loan Amount How much money are you looking for? $50K - $500K $500K - $1M $1M - $5M $5M - $10M Over $10M Name First Last Email Phone Please do not send confidential information through this form or regular email. Certificate of Deposit Accounts Personal Banking Business Banking FAQs NACHA RDC Self Assessment CRA Info Avoid ACH & Wire Fraud ATM Locations Bank Holidays Forgot Password Lost or Stolen Card Reordering Checks Privacy Policy Follow Us Follow Follow Follow P.O. Box 829, 626 Talcott Rd. Park Ridge, IL 60068 T. 847-384-9200 F. 847-384-9245 Copyright 2022 Time Bank”

“Our loan committee meets on a daily basis resulting in quick answers to your loan request. Upon receipt of a new loan request we provide borrowers with loan approvals often within a couple days.”