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California  + Los Angeles  + Finance  | 

Walker & Dunlop Arranges $154M Construction Financing for Koreatown MF

Rise Koreatown, a seven-story, Class A multifamily property in Los Angeles, received $153.7 million in construction financing. The project is being developed by Boca Raton, FL-based Rescore Property Corp., a private real estate investment trust founded by Arthur Falcone, Tony Avila, and Bill Powers. Their local development partner is Los Angeles-based Cal-Coast.

The development will comprise 364 luxury studio and one-bedroom apartments averaging 649 square feet, catering directly to the young professional demographic who desires a luxury product in a highly-walkable urban location. The property will also feature 52,000 square feet of ground floor retail anchored by Zion Market, a Korean grocery chain.

Walker & Dunlop, Inc.’s Kevin O’Grady and Eric McGlynn structured both senior and mezzanine financing for the project. They leveraged their broad network of capital providers, identifying Barings LLC as the developer’s ideal partner for the nonrecourse financing.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., 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, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Development
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