March 8, 2019
Connect Los Angeles is set for March 21st at the Hotel Indigo Downtown Los Angeles. You can get more information and register on this link.
Beverly Hills-based Quantum Capital Partners secured $38 million in combined short-and long-term debt to refinance a 110,000-square-foot portfolio in DTLA on behalf of Robhana Group. The three properties are located on a single 2.07-acre lot at 1120 and 1122 Washington Blvd, near the 10 and 110 freeway interchange in the Pico Union/University Park submarket.
The financing was secured by the newly-completed 60,000-square-foot Downtown West Medical facility and Urgent Care clinic operated by Healthcare Partners, an adjacent and recently-renovated 50,000-square-foot multi-tenant office building, as well as a new nine-story parking structure serving both buildings.
Quantum recommended splitting the financing into two separate loans to obtain the best financing solution. That included long-term debt secured by the medical facility, and shorter-term debt for the multi-tenant building and parking structure. This required a “significant undertaking” to divide the site into two parcels, says Quantum Managing Director Jonathan Hakakha, who along with Mike Yim led the financing assignment.
For comments, questions or concerns, please contact Dennis Kaiser