Northmarq Arranges Refi for Historic Koreatown Retail Center

Northmarq’s Newport Beach and Los Angeles Debt + Equity teams, led by Joe Giordani, Alex Kane, and Karl Weidell, s arranged a $29.3 million refinance for Chapman Market, a historic 41,241-square-foot multi-tenant dining and entertainment center located at 3465 W. 6th St. in Los Angeles. Northmarq arranged financing on behalf of the borrower, Arc Capital Partners, through a correspondent relationship with Voya Investment Management.

The client relationship and financing opportunity originated with Bryan Ley and Tim Kuruzar of Northmarq’s National Shopping Centers Group. Ultimately, a refinance with a life insurance company within Northmarq’s correspondent network proved the right fit for the borrower’s needs.

“If you’ve been to this property, you know it sits at the epicenter of Koreatown’s vibrant nightlife,” Giordani said. “Given the trophy nature of the asset and the institutional quality of the sponsor, we were able to generate significant interest across a broad range of capital sources, including banks, life companies and debt funds. Ultimately, Voya emerged as the ideal partner, offering highly competitive terms and a strong reputation for execution and certainty of closing.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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