April 3, 2025

The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Quantum Capital Arranges $47 Million Permanent Financing For Platform, Dubbed ‘L.A.’s Hottest Development’ By Vanity Fair

Capital Markets advisory firm Quantum Capital Partners has arranged a 10-year, non-recourse $47 million mortgage to refinance Platform, a 75,000-square-foot, transit oriented, mixed-use project in the popular Hayden Tract district of Culver City on Los Angeles’ Westside.

Developer and owner, Runyon Group will use the proceeds from the financing from Wells Fargo to retire construction debt and equity on the project, which was completed in late 2016.

“Runyon initially tasked us to find them a low-cost floating-rate bridge loan to take out their construction debt and equity.  While 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,” said Quantum Managing Director Mike Yim, who arranged the financing with Managing Director Jonathan Hakakha.

“Due 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,” said Jonathan Hakakha.  “After a thoroughly competitive bidding process, we settled on a 10-year, non-recourse, $47 million mortgage from Wells Fargo.  This financing allowed Runyon to secure maximum permanent loan proceeds at today’s attractive rates before the property reached stabilization.”

The Platform is housed in six buildings across two acres and consists of approximately 40,000 rentable square feet of creative office along with 35,000 rentable square feet of retail and restaurant space. The retail component is 98 percent leased to a complimentary mix of high-end regional and international specialty shops, fashion boutiques, and eateries.  Tenants include Reformation, Magasin, SoulCycle, and a collaboration between Curve and internationally lauded British designer Tom Dixon called The Shop.  Food and beverage providers include Loqui, Blue Bottle Coffee, Van Leeuwen, Sweetgreen, and The Cannibal.  All of the merchants and chefs at PLATFORM are either first to market or doing a unique concept for the space.

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.

Platform is the reimagining of a four-acre 1960s Los Angeles auto dealership adjacent to the Culver City station of Metro’s new Expo Light Rail line, which runs from Downtown Los Angeles to the beach in Santa Monica.

This is Quantum’s fifth assignment from Runyon Group.  The Beverly Hills-based mortgage banking firm has secured over $100 million of capital for Runyon’s various commercial real estate assets.  In the past 90 days, Quantum has completed $201 million in debt financing secured by retail, multifamily, and office properties located in the Western United States.

Quantum capital Development

Related Posts

WeHo’s WeHappy Wednesdays Serve Up Big Discounts In Addition to Zero Parking Fees

April 3, 2025

April 3, 2025

Free Parking and $5 Cocktails? WeHo Makes Wednesdays Worth It The City of West Hollywood and the West Hollywood Chamber...

Saijo Hand Roll Rolls into Culver City with Premium Japanese Ingredients

April 2, 2025

April 2, 2025

Binchotan-Fired Perfection: Saijo Rolls Out Premium Sushi in West LA A new destination for hand rolls and Japanese culinary craftsmanship...

(Video) Check Out Bernie’s, a New Pop Up at Citizen Public Market in Culver City

April 2, 2025

April 2, 2025

Made with fresh frozen fruit and a toasted merengue topping these flavors are irresistible. The pop up will be at...

From Cocktails to Coffee: U.S. Tariffs Threaten Imports, Jobs, and Your Grocery Bill

April 2, 2025

April 2, 2025

Major Price Hikes Expected for Coffee, Wine, Chocolate, and Butter  A sweeping new set of tariffs announced by former President...

Levain Bakery to Open Venice Location with Special Guests and Charitable Twist

April 2, 2025

April 2, 2025

Bigger Than a Cookie: Levain’s Venice Opening Is a Flavorful Fundraiser Levain Bakery, the cult-favorite cookie destination founded in New...

LAX Airport Server Finds Hate-Filled Message From Unidentified Diners

April 2, 2025

April 2, 2025

Waiter Says He Was Stunned by the Message Left by Customers Guillermo Ortiz, who works at Planet Hollywood inside the...

Sunset Strip Staple Le Petit Four Shuts Down After Landlord Pulls the Plug

April 2, 2025

April 2, 2025

End of an Era: Le Petit Four Forced to Close in West Hollywood In a stunning reversal to the upbeat...

Metro LA Pushes Back Sepulveda Transit Community Meetings

April 2, 2025

April 2, 2025

Environmental Review Delay Prompts Metro to Reschedule  Metro announced that community meetings scheduled for early April to discuss the Sepulveda...

County Board Approves New Homeless Agency, Redirecting Millions from Existing System

April 2, 2025

April 2, 2025

With Billions on the Line, LA County Moves to Centralize Homeless Response Los Angeles County is making a dramatic shift...

Put the Phone Down: LAPD and CHP Targets Distracted Drivers in April Crackdown

April 1, 2025

April 1, 2025

Hands-Free Law Violations Could Now Cost You More Than Just a Fine Throughout April, the Los Angeles Police Department will...

Five Arrested in Culver City After Attempted Carjacking and Vandalism Incident

April 1, 2025

April 1, 2025

Gun, Warrants, and Broken Glass: Culver City Police Tackle Two Crimes Police arrested four juveniles in connection with an attempted...

Kim Delaney, Partner Cleared After Weekend Arrest in Marina del Rey

April 1, 2025

April 1, 2025

Emmy-Winning Actress and Partner James Morgan Released Kim Delaney, the Emmy-winning actress recognized for her roles in NYPD Blue and...

(Video) Spending an Afternoon at Pacific Park on the Santa Monica Pier

April 1, 2025

April 1, 2025

Go To Pacpark.com For Tickets and More Information. Go To https://t.co/fDDgcY6b3e For Tickets and More Information.#amusementpark #rides #rollercoaster #summer #spring...

Matū Kai to Debut in Brentwood With Grass Fed Wagyu and Global Flair This Week

April 1, 2025

April 1, 2025

Farm-To-Fork Beef, Wood-Fired Flavors, and Sustainability Meet on San Vicente The team behind Beverly Hills’ acclaimed steakhouse Matū will soon...

Mid-City Freeway Death Under Investigation After Caltrans Workers Find Blanket-Covered Body

April 1, 2025

April 1, 2025

Woman Discovered on 10 Freeway Shoulder Identified; CHP Launches Probe Caltrans workers discovered a woman’s dead body around 9:00 a.m....