Brendan Miller, the company’s chief investment officer, is relocating to Miami to lead the expansion. Greg Cotton, managing director of asset management, is joining him. Denis Barreto Jr., director of credit at Thorofare Capital, was already in Miami.
“Expanding Thorofare’s footprint into Miami allows us to better serve the Eastern U.S. and is well timed with the positive momentum in Florida and the Southeast region,” Kevin Miller, the company’s chief executive, said in a statement.
Thorofare said the new office would allow it to serve current clients and find new ones in Miami; Orlando; Atlanta; Savannah, Ga.; and the Carolinas.
The company expects to add to the team by the end of the year.
“We are confident opening a HQ2 in Miami will allow us to build Thorofare’s local presence in a relevant and meaningful way,” Brendan Miller said in a statement. “I am excited about relocating to South Florida to focus on opportunistic, value-add and core-plus financing transactions.”
“I look forward to building on the foundation of the senior leadership team that is relocating from Los Angeles, as well as adding more talented professionals as we strengthen Thorofare’s presence in the market. With the recent launch of our construction lending program, this expansion is well timed to strengthen the company’s position in the region,” he added.
The construction lending program was launched earlier this year. According to Thorofare, there has been an uptick in construction activity in the Southeast this year.
Thorofare is currently working on loans for four assets worth a combined $100 million in the area.
