California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


California  + Los Angeles  + Retail  | 

DTLA Arts District Adaptive Reuse Retail Center Recapitalized

Quantum Capital Partners arranged $16 million in long-term first mortgage debt to recapitalize a new 27,000-square-foot retail center in Downtown Los Angeles’ Arts District. Located at 833 E. Third St., the 1930’s bowstring truss warehouse recently underwent a $5-million adaptive reuse, executed by the sponsor, a local investment group operating as Third Art Holdings, LLC.

Completed in 2017, the property is 100% leased to tenants including the Los Angeles flagship gallery of Hong Kong-based Over the Influence, fashion boutique H. Lorenzo, high-end retailer Shinola, ice creamery Salt and Straw and restaurants Salt Bae and Inko Nito.

Proceeds from the 10-year CMBS loan originated by Deutsche Bank, were used to take out the construction loan and return equity to the sponsor, according to Quantum’s Jonathan Hakakha.

“After successfully executing their business plan and drastically increasing both income and value, the timing was right to refinance the debt and recapture significant equity for our sponsors,” said Hakahka.

Get CRE News in 150 words

For comments, questions or concerns, please contact Dennis Kaiser


Inside The Story

Connect With Quantum Capital Partners’ Hakahka

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.