Chapman Plaza Gets $26M in Senior Bridge Financing
The Davies Group at Los Angeles-based George Smith Partners recently arranged $25.5 million in senior bridge financing provided by New York-based Ladder Capital on behalf of Los Angeles-based Arc Capital Partners for Chapman Plaza. The 43,000-square-foot retail destination dining and retail hub located in Los Angeles’ Koreatown features Baroque Revival architecture that cannot be replicated and has been recognized as an official cultural monument since 1988.
“Chapman Plaza is a cultural anchor to this community, and we are proud of our work with tenants during a difficult time,” said Quincy Allen, Arc’s managing partner. “It has been a true team effort to push this financing over the finish line, and we are excited to see the tenants grow and succeed through the recovery.”
The illustrious Chapman was constructed in 1928 – making history as the world’s first drive-through grocery store. The property underwent a major renovation program in 2017.
Led by Malcolm Davies and Zack Streit at George Smith Partners, the Davies Group identified a lender that understood the significance of the asset and the long-term viability of the business model, despite market volatility and COVID-19 related challenges in the retail sector during 2020.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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