Quantum Capital Partners has arranged $74.4m in loans on five Southern California properties, Real Estate Capital has learned.
The largest is a 10-year, $32m conduit loan secured by a 89,000 sq ft wholesale/retail showroom and parking garage in the Los Angeles Fashion District. The non-recourse loan carries a loan-to-value of 67% and was used to pay off a previous loan that Quantum arranged in 2012.
The firm also arranged a 10-year, $16m conduit loan secured by the 79,500 sq ft Plaza Mayor shopping center in Torrance, which is anchored by Ralphs grocery and includes a Big Lots, Payless, Starbucks and Cold Stone Creamery. The non-recourse loan carries a 4.1% coupon and was used to retire an existing securitized loan.
“CMBS lenders are becoming increasingly aggressive, evidenced by the fact that the market’s $94.1bn of issuance in 2014 is the most since 2007,” said Quantum managing director Jonathan Hakakha.
In addition, Quantum arranged a 10-year, $15.5m loan to Anza Partners to refinance a 162-unit apartment building in Los Angeles. The non-recourse loan features an initial seven-year fixed-rate of 3.88% and a yield maintenance prepay.
Quantum managing director Mike Yim noted that “the attractive rate will provide significantly improved cash flow to our sponsor.”
Quantum also arranged two loans totaling $10.85m for Los Angeles-based South Park Group on two West Hollywood properties. The first was a seven-year, $6m fixed-rate loan secured by a 14,000 sq ft mixed-use building. The other is a 10-year, fixed-rate loan that was used to refinance an 18-unit multifamily property.
Quantum completed $373m in financing in 2014 and has more than $185m in the pipeline with CMBS lenders, life companies, banks, and credit unions.