LOS ANGELES – A five-property retail portfolio that is based in Downtown Los Angeles’ Fashion District has received a $22-million recapitalization. The borrower was a locally based real estate investment consortium.
Financing was composed of individual loans ranging in size from $1.1 million to $8.35 million. The loans were funded by three different off-shore lenders. The second-trust deed mortgage loan had a three-year term at 4.5 percent. The remaining permanent loans each featured seven-year terms, with fixed interest rates of 4 percent for five years.
The loans were secured by Quantum Capital Partners. The team was led by Jonathan Hakakha. Quantum was tasked with finding and structuring the appropriate debt on each asset that would best meet the individual partnerships’ specific requirements.