MIDTOWN SHOPPING CENTER IN LOS ANGELES RECEIVES $44M LOAN

LOS ANGELES – A $44-million acquisition loan has been provided for Midtown Shopping Center, a 185,000-square-foot retail center in Los Angeles. Notable tenants at the center include Ralphs, CVS and OSH. Financing was based on a three-year, interest-only term. It was arranged by Ory Schwartz of NorthMarq Capital’s Los Angeles regional office through its relationship with a non-recourse bridge lender. The borrower was a private Los Angeles-based investor.