Callodine moves into real estate with acquisition of Thorofare Capital | News

The asset manager Callodine Group is entering real estate by acquiring a majority stake in Thorofare Capital.

Boston-based Callodine, which focuses on “high yield” investment strategies across all asset classes, said it has agreed to buy most of Thorofare, which manages more than $ 1 billion in real estate assets.

Thorofare, with offices in Los Angeles, New York, Miami and Dallas, becomes the real estate division of the Callodine Group.

The company’s team of 23 will be retained and the management team, investment committee and investment process will remain intact.

Callodine said it will provide strategic guidance and capital resources for the business.

“In selecting a strategic partner, our focus was on identifying a company with a strong culture, credit discipline and an investor-centric approach to position Thorofare for accelerated, 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 opportunities we see at Thorofare are significant and we look forward to entering the next phase of our company’s growth with a partner like Callodine who will work with us to achieve our shared future goals. ”

James Morrow, Founder and CEO of Callodine Group, said, “We are incredibly fortunate to have the opportunity to work with the Thorofare team to help them take what we believe to be the best real estate investment company to the next level.

“The entrepreneurship with which Kevin, Brendan Miller and the rest of the Thorofare team built their business is right in line with our core values ​​here at Callodine.”