Quantum Capital Secures $16.9M Refinancing for 63,837 SF Shopping Center in Hawthorne
HAWTHORNE, CALIF. — Quantum Capital Partners has secured $16.9 million in long-term debt to refinance Hawthorne Xchange, a neighborhood shopping center in Hawthorne. The 10-year loan features a 30-year amortization schedule and a 4 percent fixed rate.
The borrower is local investor Howard Building LLC. Loan proceeds will be used to retire the maturing debt assumed when Howard acquired the center from Danros Inc. in March 2015 for $25 million.
Located at 2831-2909 W. 120th St., the 63,837-square-foot property is fully occupied by a variety of tenants, including Sprint, Starbucks Coffee, Sears Appliance and 24 Hour Fitness. Mike Yim and Jonathan Hakakha of Quantum Capital arranged the financing.