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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