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5/18/12
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Quantum Capital Partners has arranged an interim bridge loan for a private investment firm to renovate an Art Deco-themed, mixed-use property located at 8301-8303 Beverly Blvd, between La Cienega Blvd and Fairfax Ave in Los Angeles. The property is just a few blocks west of The Grove retail center and the historic Farmers Market.
The property offers 7.9k sf of street-level retail space along with second-story office space. It is flexibly zoned for medical, spa, retail, office or health club uses.
The new $3.7 mil loan is at 75 percent LTV for 24 months at 275 over LIBOR with a one-year extension. A portion of the proceeds is allocated for renovations, which includes adding rooftop parking.
The buyer was represented by South Park Group, a full service real estate brokerage firm. Quantum Capital Managing Director Jonathan Hakakha arranged the financing.
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