DJM, a California-based real estate developer, in partnership with Arc Capital Partners, has recapitalized Village Del Amo, a 180,000-square-foot retail property.
According to DJM, the loan refinancing follows the opening of the HanNam grocery store, as well as a trend of improved leasing and positive tenant performance since the pandemic. The funding will be used to redevelop restaurants at Village Del Amo and bring in businesses desired by local residents.
Neighborhood grocery-anchored centers have continued to perform extremely well,” comments Lindsay Parton, president of DJM. “With the addition of HanNam, several new retail stores and restaurants—and plans for a property-wide design update—we know we have positioned the property for the future.”