The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
April 23, 2019
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

ETC... ETC...
Printer-friendly Version   Email an Associate
Rescore Property Corp Secures Construction Financing for 364-Unit Res Project in L.A.’s Koreatown


Rescore Property Corp has obtained $153.75 mil in construction financing for Rise Koreatown, a seven-story, Class A multifamily property located just off Wilshire Blvd in Los Angeles. The loan was arranged by Walker & Dunlop Inc.

Rise Koreatown will comprise 364 luxury studio and one-bedroom apartments averaging 649 sf, catering directly to the young professional demographic who desires a luxury product in a highly walkable urban location. The property will also feature 52k sf of ground floor retail anchored by Zion Market, a Korean grocery chain.

The project is one of many new developments in the Koreatown area, which is currently experiencing an unprecedented amount of investment activity. In addition to this multifamily offering, several office, retail, and hotel deliveries are scheduled for the coming years. The neighborhood’s rise in popularity is thanks to its centralized location near downtown, proximity to multiple metro stops, and access to trendy restaurants, businesses, and a forthcoming museum.

Walker & Dunlop’s Kevin O’Grady and Eric McGlynn led the team that arranged the senior and mezzanine financing for the project. Based in Boca Raton, FL, Rescore Property Corp is a private real estate investment trust founded by Arthur Falcone, Tony Avila, and Bill Powers. Their local development partner is Los Angeles-based Cal-Coast.

Return to the Archive page

Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2019 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media