{"id":1004166997,"date":"2017-02-17T04:09:22","date_gmt":"2017-02-17T12:09:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004166997"},"modified":"2022-12-06T22:03:39","modified_gmt":"2022-12-07T06:03:39","slug":"quantum-capital-lines-up-refi-for-la-mixed-use-development","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/quantum-capital-lines-up-refi-for-la-mixed-use-development\/","title":{"rendered":"Quantum Capital Lines Up Refi for LA Mixed-Use Development"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

Los Angeles<\/strong>\u2014The Runyon Group has received a 10-year, non-recourse $47 million mortgage to refinance Platform, a 75,000-square-foot, transit oriented, mixed-use project in the Hayden Tract district of Culver City, Calif.<\/p>\n

\"Platform\"<\/a>

Platform<\/p><\/div>\n

Quantum Capital Partners arranged the financing with Wells Fargo. Runyon Group will use the proceeds from the financing to retire construction debt and equity on the project, which was completed in late 2016.<\/p>\n

\u201cRunyon initially tasked us to find them a low-cost floating-rate bridge loan to take out their construction debt and equity,\u201d Mike Yim, Quantum\u2019s managing director, said in a prepared release. \u201cWhile marketing the property to our deep network of capital sources, we discovered that there was an appetite from multiple permanent debt lenders for Platform despite the lack of operating history.\u201d<\/p>\n

The Platform consists of six buildings across 2 acres and consists of about 40,000 rentable square feet of creative office along with 35,000 rentable square feet of retail and restaurant space.<\/p>\n

The 35,152-square-foot office component is 100 percent leased and is the creative headquarters of Reformation, SoulCycle, digital advertising firm Criteo and restaurant company Sweetgreen.<\/p>\n

\u201cDue to the unique quality of this asset and the successful track record of the sponsor, there was a tremendous amount of interest from lenders, which gave Runyon multiple financing solutions from which to choose,\u201d Jonathan Hakakha, Quantum\u2019s managing director, said. \u201cThis financing allowed Runyon to secure maximum permanent loan proceeds at today\u2019s attractive rates before the property reached stabilization.\u201d<\/p>\n

A retail component of the property is currently 98 percent leased to a complimentary mix of high-end regional and international specialty shops, fashion boutiques and eateries. The tenant roster includes Reformation, Magasin, SoulCycle and a collaboration between Curve and internationally lauded British designer Tom Dixon called The Shop. \u00a0Food and beverage providers include Loqui, Blue Bottle Coffee, Van Leeuwen, Sweetgreen and The Cannibal.<\/p>\n

Platform is the reimagining of a 4-acre 1960s Los Angeles auto dealership adjacent to the Culver City station of Metro\u2019s new Expo Light Rail line, which runs from downtown Los Angeles to the beach in Santa Monica.<\/p>\n

Quantum has secured more than $100 million of capital for Runyon\u2019s various commercial real estate assets.<\/p>\n","protected":false},"excerpt":{"rendered":"

The firm worked on behalf of Runyon Group to secure a $47 million mortgage for Platform, a six-building, transit-oriented project in Culver City, Calif.<\/p>\n","protected":false},"author":451,"featured_media":1004166999,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,1594,21752,21742,15],"tags":[34014],"class_list":["post-1004166997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-los-angeles","category-mixed-use","category-latest","category-west","tag-quantum-capital-partners"],"acf":[],"yoast_head":"\nQuantum Capital Lines Up Refi for LA Mixed-Use Development - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/quantum-capital-lines-up-refi-for-la-mixed-use-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Quantum Capital Lines Up Refi for LA Mixed-Use Development\" \/>\n<meta property=\"og:description\" content=\"The firm worked on behalf of Runyon Group to secure a $47 million mortgage for Platform, a six-building, transit-oriented project in Culver City, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/quantum-capital-lines-up-refi-for-la-mixed-use-development\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-17T12:09:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T06:03:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/02\/Platform.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/quantum-capital-lines-up-refi-for-la-mixed-use-development\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/quantum-capital-lines-up-refi-for-la-mixed-use-development\/\",\"name\":\"Quantum Capital Lines Up Refi for LA Mixed-Use Development - 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