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The Callodine group announces the acquisition of Thorofare Capital


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Thorofare Acquisition Adds Real Estate Expertise to Callodine Platform and Extends Company Capabilities in Return-Driven Investment Strategies

The strategic partnership with Callodine will strengthen the existing Thorofare platform and support its next phase of growth

BOSTON & LOS ANGELES – (BUSINESS WIRE) – Callodine Group (“Callodine”), an asset management firm focused on return-driven investment strategies, today announced that it has entered into a definitive agreement to acquire a majority stake in Thorofare Capital (“Thorofare”). Thorofare is a leading real estate investment firm, managing over $ 1 billion in assets under management (“AUM”), with offices in Los Angeles, New York, Miami and Dallas.

This press release features multimedia. See the full version here: https://www.businesswire.com/news/home/20211214005363/en/

As part of the closing of the transaction, Thorofare will become the real estate arm of the Callodine Group, with the full team of 23 employees continuing with the business. Thorofare’s management team, investment committee and investment process will all remain intact, with Callodine providing strategic advice and capital resources to the company.

“When choosing a strategic partner, our goal was to identify a company that has a strong corporate culture, credit discipline and investor-centric approach to position Thorofare for accelerated and long-term growth. as we move into the next chapter of our business, ”said Kevin Miller, Founder and CEO of Thorofare Capital. “We found all of these attributes and more in the Callodine team. The set of opportunities that we see ahead of us at Thorofare are significant, and we are excited to enter the next phase of our business growth with a partner like Callodine who will work alongside us to achieve our common goals for the to come up.

“We are incredibly fortunate to have the opportunity to partner with the team at Thorofare and help them take what we believe to be already a premier real estate investment firm to the next level,” said James Morrow, Founder and CEO of Callodine Group. . “The entrepreneurial spirit with which Kevin, Brendan Miller and the rest of the Thorofare team have built their business aligns directly with our core values ​​here at Callodine. We look forward to working together in pursuit of exciting investment opportunities and thoughtful growth for the years to come. ”

The transaction is expected to close by the end of the year. Over the next few months, Thorofare Capital will switch to the Callodine Thorofare brand.

Berkshire Global Advisors LP acted as exclusive financial advisor and Kirkland & Ellis LLP as legal advisor to Thorofare.

Aviditi Advisors served as strategic advisor and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Callodine.

About the Callodine group

Callodine Group is an asset management platform specializing in return-oriented investment strategies. The company has the ability to invest through the capital structure in multiple asset classes and pursues income driven investments that provide high cash returns with upside potential similar to stocks. Callodine’s asset management subsidiaries target investment strategies in public equities, private credit and real estate on behalf of its investor clients. For more information about the firm, please visit Callodine’s website at www.callodine.com.

About Thorofare Capital

Thorofare Capital, Inc. is a national, vertically integrated commercial real estate investment manager. Based in Los Angeles with additional offices in New York, Miami and Dallas, Thorofare manages over $ 1 billion in assets under management. The company is focused on $ 10 million to $ 100 million financing deals, targeting value-added and opportunistic acquisitions, recapitalizations and distressed debt secured by transition properties. The Company’s subsidiary, Thorofare LLC, is an investment advisor specializing in alternative fixed income opportunities through commercial real estate debt investments in the United States. Thorofare has generated more than $ 3.3 billion in transactions since the company was founded in 2010, in more than 12 types of properties in 32 states. For more information about the company, please visit the Thorofare website at www.thorofarecapital.com.

Forward-looking statements and additional information

Statements contained in this document may include forward-looking statements, statements of future expectations and other forward-looking statements that are based on the current views and assumptions of management and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements contained herein are made only as of the date of this press release, and the company assumes no obligation to update any forward-looking information or statements contained herein, except as required by law. Assets under management include both regulatory assets under management and loan assets managed in non-investment advisory accounts as of December 13, 2021.

Callodine Group

Tyler bak

Telephone: (617) 880-7491

E-mail: [email protected]

Source: Callodine Group