{"id":1004102656,"date":"2014-08-21T12:02:48","date_gmt":"2014-08-21T20:02:48","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=286099"},"modified":"2022-12-03T04:31:28","modified_gmt":"2022-12-03T12:31:28","slug":"thorofare-capital-arranged-loan-leads-to-sale-of-final-condo-units-at-the-martin-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/thorofare-capital-arranged-loan-leads-to-sale-of-final-condo-units-at-the-martin-2\/","title":{"rendered":"Thorofare Capital-Arranged Loan Leads to Sale of Final Condo Units at The Martin"},"content":{"rendered":"<p class=\"MsoNormal\"><em>By Alex Girda, Associate Editor<\/em><\/p>\n<p class=\"MsoNormal\">Thorofare Capital, an alternative investment platform, has provided a $4 million short-term loan to finance the acquisition of a condo unit portfolio at The Martin. The sponsor will use the financing to acquire the final units under the ownership of the tower\u2019s developer, and then focus on selling the condos to foreign investors. KCD Martin is buying the units from New York-based iStar Financial.<\/p>\n<p class=\"MsoNormal\">The 45-story luxury r<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/08\/the-martin.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-286100\" title=\"the-martin\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/08\/the-martin.jpg\" alt=\"\" width=\"300\" height=\"245\" \/><\/a>esidential tower is located on Las Vegas Boulevard, and is one of the three buildings that comprise the Panorama Towers complex at the core of Las Vegas. The 372-unit\u00a0condo tower,\u00a0located near Las Vegas CityCenter,\u00a0offers access to the nearby Cosmopolitan Hotel and The Bellagio via an overpass. After its completion in 2009, the crashing market caught up with The Martin and the property ended up as part of iStar Financial\u2019s portfolio through foreclosure, since the company provided the original construction loan. Under the management of iStar Residential, a subsidiary of the ownership entity, the remaining units were eventually sold, with the exception of 20 units, all of which were part of this recent deal.<\/p>\n<p class=\"MsoNormal\">Units at the residential tower offer high-end features such as state-of-the-art appliances and floor-to-ceiling windows with panoramic views, including the Las Vegas Strip and the mountain range. The standout feature of the amenity package is a dedicated concierge service, while others include steam and treatment rooms, a library lounge, a 2,400-square-foot health center, pool cabanas and a garden lounge, as well as a yoga studio. <span>\u00a0<\/span><\/p>\n<p><em>Image courtesy of\u00a0thorofarecapital.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thorofare Capital, an alternative investment platform, recently announced that it had provided a $4 million short-term loan to finance the acquisition of a condo unit portfolio at The Martin. The sponsor will use the financing to acquire the final units under the ownership of the tower&rsquo;s developer, and then focus on selling the condos to foreign investors. KCD Martin is buying the units from New York-based iStar Financial.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1593,21742],"tags":[1815],"class_list":["post-1004102656","post","type-post","status-publish","format-standard","hentry","category-las-vegas","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Thorofare Capital-Arranged Loan Leads to Sale of Final Condo Units at The Martin - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/thorofare-capital-arranged-loan-leads-to-sale-of-final-condo-units-at-the-martin-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thorofare Capital-Arranged Loan Leads to Sale of Final Condo Units at The Martin\" \/>\n<meta property=\"og:description\" content=\"Thorofare Capital, an alternative investment platform, recently announced that it had provided a $4 million short-term loan to finance the acquisition of a condo unit portfolio at The Martin. The sponsor will use the financing to acquire the final units under the ownership of the tower&rsquo;s developer, and then focus on selling the condos to foreign investors. KCD Martin is buying the units from New York-based iStar Financial.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/thorofare-capital-arranged-loan-leads-to-sale-of-final-condo-units-at-the-martin-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-08-21T20:02:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-03T12:31:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/08\/the-martin.jpg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thorofare-capital-arranged-loan-leads-to-sale-of-final-condo-units-at-the-martin-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thorofare-capital-arranged-loan-leads-to-sale-of-final-condo-units-at-the-martin-2\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Thorofare Capital-Arranged Loan Leads to Sale of Final Condo Units at The Martin\",\"datePublished\":\"2014-08-21T20:02:48+00:00\",\"dateModified\":\"2022-12-03T12:31:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thorofare-capital-arranged-loan-leads-to-sale-of-final-condo-units-at-the-martin-2\\\/\"},\"wordCount\":271,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thorofare-capital-arranged-loan-leads-to-sale-of-final-condo-units-at-the-martin-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/08\\\/the-martin.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"Las Vegas\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thorofare-capital-arranged-loan-leads-to-sale-of-final-condo-units-at-the-martin-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thorofare-capital-arranged-loan-leads-to-sale-of-final-condo-units-at-the-martin-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/thorofare-capital-arranged-loan-leads-to-sale-of-final-condo-units-at-the-martin-2\\\/\",\"name\":\"Thorofare Capital-Arranged Loan Leads to Sale of Final Condo Units at The Martin - 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