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LOS ANGELES — ArcWest Partners, a joint venture between Arc Capital Partners and Belay Investment Group, has acquired Chapman Plaza, a historic retail center in Los Angeles’s Koreatown, for an undisclosed sum.
Originally opened in 1929 and renovated in 1990, the property is anchored by Baekjeong and Quarters, two Korean-barbeque restaurants.
Ben Wagner of CBRE worked with Thorofare Capital and DoubleLine Capital to arrange for bridge acquisition and renovation financing. Jay Chu and Ryan Yatman of Secured Properties advised the buyer and seller in an off-market basis. The names of the seller and buyer were not released.