Quantum Capital Partners Gets Financing For Major LA Deals
Quantum Capital Partners has recently secured financing for some LA projects with unique histories.
The firm, along with Opus Bank, secured a $23M construction loan on 1400 Fig (pictured above). The property was developed on a 25k SF land parcel that had operated as a parking lot, according to Quantum Capital Partners managing director Jonathan Hakakha.
The 1400 Fig development is their largest to date, Quantum Capital Partners managing director Mike Yim says.
Quantum Capital also secured $15.5M to refinance the Variety Arts Center near LA Live in February. The Variety Arts Center is a "single tenant, special use building," and it is generally "never easy to secure financing for these types of buildings," Jonathan says (shown are Mike, Jonathan, Jonathan's wife, Celine Hakakha, and Mike's wife, Karen Yim).
Hillsong Church, a Sydney, Australia-based church, is the building's tenant.
The two men say downtown is an exciting place these days because of the amount of capital being poured into the area. They have secured more than $400M since 2010 on approximately 25 downtown LA real estate deals, Mike says.